ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 3000 Growth Index benchmark. The strategy gained in seven of the nine sectors in which it was invested in the quarter on an absolute basis. Healthcare and industrials sectors were the primary contributors while the consumer discretionary sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge All Cap Growth Strategy highlighted stocks like The Estée Lauder Companies Inc. (NYSE:EL) in the Q4 2022 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 February 28, 2023, The Estée Lauder Companies Inc. (NYSE:EL) stock closed at $243.05 per share. One-month return of The Estée Lauder Companies Inc. (NYSE:EL) was -13.44%, and its shares lost 16.69% of their value over the last 52 weeks. The Estée Lauder Companies Inc. (NYSE:EL) has a market capitalization of $86.822 billion.
ClearBridge All Cap Growth Strategy made the following comment about The Estée Lauder Companies Inc. (NYSE:EL) in its Q4 2022 investor letter:
“The Estée Lauder Companies Inc. (NYSE:EL), which manufactures and markets cosmetics, fragrances, skin and hair care products across a number of well-known global brands including Clinique, MAC and Bobbi Brown, adds to our group of secular growers. Estee Lauder is a global leader in the prestige beauty space, which has outgrown the broader home and personal care category since 2010 and has historically been recession resilient. The company has substantial brand and pricing power and is overindexed to the highly profitable prestige skin care category. We believe the company’s most recent earnings report and 2023 guidance update, which was cut significantly due to uncertainty over China’s zero-COVID policy (China and travel retail are key growth drivers), provided an attractive entry point. At this point, we believe the stock has been significantly derisked and could see potential upside from a China recovery.”
The Estée Lauder Companies Inc. (NYSE:EL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held The Estée Lauder Companies Inc. (NYSE:EL) at the end of the fourth quarter which was 52 in the previous quarter.
We discussed The Estée Lauder Companies Inc. (NYSE:EL) in another article and shared the list of largest FMCG companies. In addition, please check out our hedge fund investor letters Q4 2022 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.
