Neuberger Berman Group LLC Reduces Stock Holdings in The Estée Lauder Companies Inc. (NYSE:EL)

Neuberger Berman Group LLC lowered its position in The Estée Lauder Companies Inc. (NYSE:ELGet Rating) by 21.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 204,246 shares of the company’s stock after selling 56,604 shares during the period. Neuberger Berman Group LLC’s holdings in Estée Lauder Companies were worth $55,630,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of Estée Lauder Companies by 540.9% in the first quarter. Fisher Asset Management LLC now owns 9,075 shares of the company’s stock valued at $2,471,000 after buying an additional 7,659 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Estée Lauder Companies by 15.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 171,517 shares of the company’s stock valued at $47,832,000 after buying an additional 22,821 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Estée Lauder Companies by 4.3% in the first quarter. Natixis Advisors L.P. now owns 81,057 shares of the company’s stock valued at $22,073,000 after buying an additional 3,332 shares in the last quarter. Alphastar Capital Management LLC increased its position in shares of Estée Lauder Companies by 23.3% in the first quarter. Alphastar Capital Management LLC now owns 1,170 shares of the company’s stock valued at $319,000 after buying an additional 221 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Estée Lauder Companies by 29.2% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,760 shares of the company’s stock valued at $479,000 after acquiring an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 56.96% of the company’s stock.

Wall Street Analyst Weigh In

EL has been the topic of a number of analyst reports. Credit Suisse Group decreased their price objective on Estée Lauder Companies from $310.00 to $308.00 and set an “outperform” rating on the stock in a research note on Friday, August 19th. Piper Sandler increased their price objective on Estée Lauder Companies to $325.00 in a research note on Monday, August 22nd. Royal Bank of Canada decreased their price objective on Estée Lauder Companies from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Friday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Estée Lauder Companies in a research note on Tuesday, May 31st. Finally, UBS Group increased their price objective on Estée Lauder Companies from $266.00 to $289.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Estée Lauder Companies presently has an average rating of “Moderate Buy” and a consensus target price of $318.65.

Estée Lauder Companies Trading Down 2.2 %

NYSE:EL opened at $239.38 on Monday. The Estée Lauder Companies Inc. has a 12-month low of $225.39 and a 12-month high of $374.20. The firm has a market capitalization of $85.44 billion, a P/E ratio of 36.71, a P/E/G ratio of 3.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.10. The business has a 50 day simple moving average of $259.98 and a 200 day simple moving average of $259.09.

Estée Lauder Companies (NYSE:ELGet Rating) last announced 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. Estée Lauder Companies had a return on equity of 43.78% and a net margin of 13.48%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. Equities research analysts predict that The Estée Lauder Companies Inc. will post 7.51 EPS for the current year.

Estée Lauder Companies Dividend Announcement

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

Insider Activity at Estée Lauder Companies

In other news, EVP Carl P. Haney sold 7,559 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 3,296 shares in the company, valued at approximately $830,756.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Estée Lauder Companies news, EVP Carl P. Haney sold 7,559 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 3,296 shares of the company’s stock, valued at approximately $830,756.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Fabrizio Freda sold 19,709 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $268.01, for a total value of $5,282,209.09. Following the completion of the transaction, the chief executive officer now directly owns 116,792 shares of the company’s stock, valued at $31,301,423.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,727 shares of company stock valued at $10,591,510. Company insiders own 13.95% of the company’s stock.

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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