Decline in Travel Retail Business Impacted The Estée Lauder Companies (EL)

Madison Investments, an investment advisor, has recently published its “Madison Sustainable Equity Fund” third quarter 2023 investor letter. You can download a copy of the letter here. In the third quarter, the markets showed mixed performance, with the fund returning -3.14% compared to the S&P 500 Index’s -3.27% return. To discover the fund’s top picks in 2023, take a look at its top 5 holdings.

The Q3 2023 investor letter from Madison Sustainable Equity Fund highlighted Estée Lauder Companies Inc. (NYSE:EL) as one of its featured stocks. Estée Lauder is a skincare, makeup, fragrance, and hair care products manufacturer headquartered in New York. As of October 25, 2023, Estée Lauder’s stock closed at $134.55 per share, with a one-month return of -3.92%. Over the past 52 weeks, its shares have lost 34.68% of their value. Estée Lauder currently has a market capitalization of $48.147 billion.

In the Q3 2023 investor letter, Madison Sustainable Equity Fund made the following comment about Estée Lauder Companies Inc. (NYSE:EL):

“NextEra, The Estée Lauder Companies Inc. (NYSE:EL), Target, Oracle, and TE Connectivity were the largest detractors. Estee Lauder has seen a steep decline in its travel retail business in both China and Korea. We expect the travel retail business to begin to recover as we move into 2024.”


According to our database, The Estée Lauder Companies Inc. (NYSE:EL) is not among the 30 Most Popular Stocks Among Hedge Funds. However, 44 hedge fund portfolios held the stock at the end of the second quarter, compared to 59 in the previous quarter.

We have previously discussed The Estée Lauder Companies Inc. (NYSE:EL) in another article where we shared a list of the best consumer staples stocks to buy. For more investor letters from hedge funds and other leading investors, please visit our hedge fund investor letters Q3 2023 page.


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


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