Bank of America Corp DE Acquires 106,730 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Bank of America Corp DE grew its holdings in The Estée Lauder Companies Inc. (NYSE:ELGet Rating) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,301,152 shares of the company’s stock after acquiring an additional 106,730 shares during the quarter. Bank of America Corp DE’s holdings in Estée Lauder Companies were worth $626,650,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EL. BlackRock Inc. lifted its position in Estée Lauder Companies by 13.1% during the fourth quarter. BlackRock Inc. now owns 16,953,258 shares of the company’s stock worth $6,276,099,000 after purchasing an additional 1,969,898 shares during the period. State Street Corp lifted its position in Estée Lauder Companies by 1.9% during the first quarter. State Street Corp now owns 9,946,170 shares of the company’s stock worth $2,708,541,000 after purchasing an additional 184,272 shares during the period. Fundsmith LLP lifted its position in Estée Lauder Companies by 4.9% during the fourth quarter. Fundsmith LLP now owns 7,165,161 shares of the company’s stock worth $2,652,543,000 after purchasing an additional 333,409 shares during the period. Geode Capital Management LLC lifted its position in Estée Lauder Companies by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,651,707 shares of the company’s stock worth $1,347,667,000 after purchasing an additional 130,587 shares during the period. Finally, Ninety One UK Ltd lifted its position in Estée Lauder Companies by 20.5% during the first quarter. Ninety One UK Ltd now owns 3,093,432 shares of the company’s stock worth $842,403,000 after purchasing an additional 525,319 shares during the period. Institutional investors own 56.96% of the company’s stock.

Analyst Upgrades and Downgrades

EL has been the subject of several research analyst reports. UBS Group boosted their target price on Estée Lauder Companies from $266.00 to $289.00 and gave the stock a “neutral” rating in a research note on Friday, August 19th. Piper Sandler boosted their target price on Estée Lauder Companies to $325.00 in a research note on Monday, August 22nd. DA Davidson lowered their price objective on Estée Lauder Companies from $342.00 to $318.00 and set a “buy” rating for the company in a research note on Tuesday, August 23rd. JPMorgan Chase & Co. lowered their price objective on Estée Lauder Companies from $270.00 to $265.00 in a research note on Thursday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Estée Lauder Companies from $266.00 to $280.00 in a research note on Friday, August 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $318.65.

Insider Buying and Selling

In related news, EVP Carl P. Haney sold 7,559 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $252.05, for a total value of $1,905,245.95. Following the transaction, the executive vice president now directly owns 3,296 shares in the company, valued at approximately $830,756.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Estée Lauder Companies news, EVP Carl P. Haney sold 7,559 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $252.05, for a total transaction of $1,905,245.95. Following the transaction, the executive vice president now directly owns 3,296 shares in the company, valued at approximately $830,756.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wei Sun Christianson sold 1,056 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $261.52, for a total value of $276,165.12. Following the sale, the director now directly owns 10,402 shares of the company’s stock, valued at $2,720,331.04. The disclosure for this sale can be found here. Insiders have sold a total of 39,727 shares of company stock worth $10,591,510 in the last ninety days. Corporate insiders own 13.95% of the company’s stock.

Estée Lauder Companies Price Performance

Estée Lauder Companies stock opened at $239.38 on Friday. The stock has a market capitalization of $85.43 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.29 and a beta of 0.99. The Estée Lauder Companies Inc. has a 52-week low of $225.39 and a 52-week high of $374.20. The stock’s 50 day moving average price is $259.98 and its two-hundred day moving average price is $259.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.60.

Estée Lauder Companies (NYSE:ELGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Estée Lauder Companies had a return on equity of 43.78% and a net margin of 13.48%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. On average, equities analysts predict that The Estée Lauder Companies Inc. will post 7.51 earnings per share for the current year.

Estée Lauder Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, August 30th. Estée Lauder Companies’s dividend payout ratio is currently 36.81%.

About Estée Lauder Companies

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The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It 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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