Handelsbanken Fonder AB increased its holdings in The Estee Lauder Companies Inc. (NYSE:EL – Free Report) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 158,498 shares of the company’s stock after buying an additional 24,322 shares during the period. Handelsbanken Fonder AB’s holdings in Estee Lauder Companies were worth $12,513,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of EL. Bank of America Corp DE lifted its position in shares of Estee Lauder Companies by 950.9% during the first quarter. Bank of America Corp DE now owns 13,843,765 shares of the company’s stock worth $993,567,000 after acquiring an additional 12,526,471 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Estee Lauder Companies by 185.3% in the fourth quarter. Schroder Investment Management Group now owns 8,140,550 shares of the company’s stock valued at $861,596,000 after purchasing an additional 5,286,875 shares in the last quarter. J. Stern & Co. LLP raised its stake in shares of Estee Lauder Companies by 4,281.3% during the 4th quarter. J. Stern & Co. LLP now owns 4,094,761 shares of the company’s stock valued at $4,094,761,000 after purchasing an additional 4,001,300 shares during the period. Norges Bank purchased a new stake in Estee Lauder Companies during the 4th quarter worth about $308,912,000. Finally, M&T Bank Corp lifted its holdings in Estee Lauder Companies by 16,270.3% during the 4th quarter. M&T Bank Corp now owns 2,667,208 shares of the company’s stock worth $279,310,000 after purchasing an additional 2,650,915 shares in the last quarter. Institutional investors own 55.15% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on EL shares. Telsey Advisory Group cut their target price on Estee Lauder Companies from $105.00 to $90.00 and set a “market perform” rating for the company in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Estee Lauder Companies in a report on Friday, July 31st. Sanford C. Bernstein assumed coverage on shares of Estee Lauder Companies in a research report on Friday, June 12th. They issued a “market perform” rating and a $82.00 price objective for the company. TD Cowen boosted their price objective on shares of Estee Lauder Companies from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, Piper Sandler began coverage on shares of Estee Lauder Companies in a report on Friday, May 15th. They set an “overweight” rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $96.95.
Estee Lauder Companies Price Performance
NYSE:EL opened at $87.14 on Friday. The Estee Lauder Companies Inc. has a 52-week low of $66.22 and a 52-week high of $121.64. The stock has a fifty day moving average of $84.15 and a 200 day moving average of $87.45. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.94 and a current ratio of 1.27. The firm has a market capitalization of $31.53 billion, a price-to-earnings ratio of -124.48, a P/E/G ratio of 0.69 and a beta of 1.25.
Estee Lauder Companies Company Profile
Estée Lauder Companies Inc (NYSE: EL) is a global leader in prestige beauty that develops, manufactures and markets a broad portfolio of skincare, makeup, fragrance and hair care products. Founded in 1946 by Estée Lauder, the company has grown from a small family business into a multinational consumer-products enterprise headquartered in New York City. Its activities span product research and development, brand and product marketing, manufacturing and global distribution across multiple retail channels.
The company’s portfolio includes a mix of legacy and prestige brands that target different consumer segments and price points, with well-known names such as Estée Lauder, Clinique, MAC, La Mer and Jo Malone among others.
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