12 Best Hair Care Stocks to Buy According to Hedge Funds

5. Bath & Body Works, Inc. (NYSE:BBWI)

Number of Hedge Fund Holders: 36

Bath & Body Works, Inc. (NYSE:BBWI) is a specialty omnichannel retailer specializing in personal care and home fragrance. It sells its merchandise under Bath & Body Works, White Barn, and other brand names and has an elaborate range of shampoos, conditioners, body lotions, home fragrance diffusers, 3-wick candles, and more. Its hair care essentials are known for their signature composition, made without artificial dyes, sulfates, and parabens.

Bath & Body Works, Inc. (NYSE:BBWI) sells its merchandise in around 1,850 company-operated stores and e-commerce sites across the US and Canada. It also has around 485 stores and 28 e-commerce sites in over 40 other countries across the globe, operating under license, franchise, and wholesale arrangements. The company reported a 3% growth in its net sales in fiscal Q3 2024, reflecting a positive growth in its core operations. Its predominantly US-based supply chain and agile business model lend it a competitive market edge.

In addition, Bath & Body Works, Inc.’s (NYSE:BBWI) strategic investments and focused execution of its five E strategy are driving momentum toward long-term profitable growth. The five Es of its strategy include elevating the Bath and Body Works brand and core products, engaging with its core customers innovatively, extending its reach to new markets and adjacencies, enhancing its omnichannel experience, and enhancing operational efficiency and excellence. It made progress across all these categories in fiscal Q3 2024. The company ranks fifth on our list, and its current price target of $35.89 implies an upside of 19.81% from current levels.