What Makes The Estée Lauder Companies (EL) the Best Investment Option?

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The market’s increased concentration on generative AI pushed the mega-cap growth stocks to outperform in the quarter. The strategy outperformed its benchmark the Russell 1000 Growth Index through a high-beta-driven period of mega-cap dominance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Large Cap Growth Strategy highlighted stocks The Estée Lauder Companies Inc. (NYSE:EL) in the Q2 2023 investor letter. Headquartered in New York, New York, The Estée Lauder Companies Inc. (NYSE:EL) is a skincare, makeup, fragrance, and hair care products manufacturer. On July 7, 2023, The Estée Lauder Companies Inc. (NYSE:EL) stock closed at $192.46 per share. One-month return of The Estée Lauder Companies Inc. (NYSE:EL) was 7.14%, and its shares lost 21.63 % of their value over the last 52 weeks. The Estée Lauder Companies Inc. (NYSE:EL) has a market capitalization of $68.788 billion.

ClearBridge Large Cap Growth Strategy made the following comment about The Estée Lauder Companies Inc. (NYSE:EL) in its second quarter 2023 investor letter:

We have refreshed our whiteboard and will look to take advantage of such downside earnings revisions among early cycle recovery plays in industrials and consumer discretionary. We are targeting quality themes in the consumer space where estimates have been partly de-risked, similar to the scenario that prompted the purchase of The Estée Lauder Companies Inc. (NYSE:EL) in the fourth quarter. Such names should be well-positioned to deliver improved earnings on the other side of an eventual recession.

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The Estée Lauder Companies Inc. (NYSE:EL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 59 hedge fund portfolios held The Estée Lauder Companies Inc. (NYSE:EL) at the end of first quarter which was 44 in the previous quarter.

We discussed The Estée Lauder Companies Inc. (NYSE:EL) in another article and shared Kim Kardashian stock portfolio. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.