Van ECK Associates Corp trimmed its position in shares of The Estee Lauder Companies Inc. (NYSE:EL – Free Report) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,673,736 shares of the company’s stock after selling 678,941 shares during the quarter. Van ECK Associates Corp owned approximately 1.02% of Estee Lauder Companies worth $384,713,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Estee Lauder Companies by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 27,952,869 shares of the company’s stock worth $2,927,224,000 after purchasing an additional 1,043,746 shares in the last quarter. State Street Corp boosted its holdings in shares of Estee Lauder Companies by 2.4% during the 3rd quarter. State Street Corp now owns 11,118,587 shares of the company’s stock valued at $979,770,000 after purchasing an additional 259,048 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Estee Lauder Companies by 22.7% during the 4th quarter. Bank of New York Mellon Corp now owns 7,497,179 shares of the company’s stock valued at $785,105,000 after buying an additional 1,384,678 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Estee Lauder Companies by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,308,108 shares of the company’s stock valued at $658,020,000 after buying an additional 331,530 shares in the last quarter. Finally, Norges Bank purchased a new stake in Estee Lauder Companies in the 4th quarter worth about $308,912,000. 55.15% of the stock is owned by institutional investors.
Estee Lauder Companies Price Performance
Shares of EL opened at $89.64 on Friday. The Estee Lauder Companies Inc. has a fifty-two week low of $66.22 and a fifty-two week high of $121.64. The firm’s 50 day moving average price is $80.32 and its 200 day moving average price is $94.58. The company has a market cap of $32.43 billion, a P/E ratio of -128.05, a PEG ratio of 0.91 and a beta of 1.26. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 1.71.
Estee Lauder Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. Estee Lauder Companies’s dividend payout ratio (DPR) is currently -200.00%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on EL shares. Wells Fargo & Company increased their price objective on shares of Estee Lauder Companies from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Estee Lauder Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Barclays boosted their price target on shares of Estee Lauder Companies from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Estee Lauder Companies from $98.00 to $99.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Piper Sandler began coverage on shares of Estee Lauder Companies in a report on Friday, May 15th. They issued an “overweight” rating and a $95.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Estee Lauder Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.65.
View Our Latest Analysis on Estee Lauder Companies
Estee Lauder Companies 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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