State Street Corp Buys 261,654 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

State Street Corp increased its position in shares of The Estée Lauder Companies Inc. (NYSE:ELGet Rating) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,761,898 shares of the company’s stock after purchasing an additional 261,654 shares during the period. State Street Corp’s holdings in Estée Lauder Companies were worth $3,613,855,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EL. Morgan Stanley increased its position in shares of Estée Lauder Companies by 100.7% during the 2nd quarter. Morgan Stanley now owns 3,778,605 shares of the company’s stock worth $1,201,900,000 after purchasing an additional 1,895,658 shares in the last quarter. Vident Investment Advisory LLC increased its position in shares of Estée Lauder Companies by 48.6% during the 3rd quarter. Vident Investment Advisory LLC now owns 7,566 shares of the company’s stock worth $2,269,000 after purchasing an additional 2,473 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Estée Lauder Companies by 4.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 333,049 shares of the company’s stock worth $99,892,000 after purchasing an additional 12,763 shares in the last quarter. Fort L.P. increased its position in Estée Lauder Companies by 85.8% in the 3rd quarter. Fort L.P. now owns 1,674 shares of the company’s stock valued at $502,000 after acquiring an additional 773 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Estée Lauder Companies by 6.3% in the 3rd quarter. Empirical Finance LLC now owns 2,851 shares of the company’s stock valued at $855,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.

EL stock opened at $251.86 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.75 and a quick ratio of 1.23. The company has a fifty day moving average price of $257.85 and a two-hundred day moving average price of $300.99. The Estée Lauder Companies Inc. has a one year low of $225.39 and a one year high of $374.20. The stock has a market cap of $90.00 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04.

Estée Lauder Companies (NYSE:ELGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Estée Lauder Companies had a net margin of 18.53% and a return on equity of 45.06%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 earnings per share. Research analysts anticipate that The Estée Lauder Companies Inc. will post 7.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.95%. Estée Lauder Companies’s payout ratio is presently 26.26%.

Several equities research analysts have weighed in on EL shares. Stifel Nicolaus lowered their price objective on shares of Estée Lauder Companies from $355.00 to $335.00 and set a “buy” rating for the company in a research report on Tuesday, April 5th. UBS Group lowered their price objective on shares of Estée Lauder Companies from $352.00 to $326.00 and set a “neutral” rating for the company in a research report on Friday, February 4th. Piper Sandler reduced their target price on shares of Estée Lauder Companies from $380.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. Raymond James dropped their target price on shares of Estée Lauder Companies from $345.00 to $320.00 in a report on Wednesday, May 4th. Finally, Oppenheimer dropped their target price on shares of Estée Lauder Companies from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $332.29.

In related news, EVP Carl P. Haney sold 1,965 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $237.92, for a total transaction of $467,512.80. Following the completion of the sale, the executive vice president now owns 4,515 shares of the company’s stock, valued at $1,074,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charlene Barshefsky sold 1,158 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $238.34, for a total transaction of $275,997.72. Following the sale, the director now directly owns 46,828 shares of the company’s stock, valued at approximately $11,160,985.52. The disclosure for this sale can be found here. Insiders own 13.95% of the company’s stock.

Estée Lauder Companies Company Profile (Get Rating)

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.

Further Reading

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Institutional Ownership by Quarter for Estée Lauder Companies (NYSE:EL)

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