Van ECK Associates Corp Increases Stock Position in The Estée Lauder Companies Inc. (NYSE:EL)

Van ECK Associates Corp lifted its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 36.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,041,911 shares of the company’s stock after buying an additional 1,078,926 shares during the quarter. Van ECK Associates Corp’s holdings in Estée Lauder Companies were worth $402,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Estée Lauder Companies by 1,094.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 146,648 shares of the company’s stock worth $22,606,000 after buying an additional 134,371 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Estée Lauder Companies by 28.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,907 shares of the company’s stock worth $8,310,000 after purchasing an additional 11,966 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Estée Lauder Companies by 15.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,788 shares of the company’s stock valued at $1,046,000 after acquiring an additional 909 shares during the last quarter. Tobam increased its position in Estée Lauder Companies by 18.1% during the first quarter. Tobam now owns 1,357 shares of the company’s stock valued at $209,000 after acquiring an additional 208 shares during the last quarter. Finally, BNP Paribas bought a new position in Estée Lauder Companies during the first quarter valued at $997,000. 55.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Estée Lauder Companies

In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total value of $364,142.90. Following the completion of the transaction, the director now owns 15,209 shares of the company’s stock, valued at $1,423,714.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Lynn Forester sold 3,890 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total transaction of $364,142.90. Following the sale, the director now directly owns 15,209 shares in the company, valued at $1,423,714.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charlene Barshefsky sold 3,437 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the transaction, the director now owns 49,800 shares in the company, valued at $4,578,114. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EL shares. Canaccord Genuity Group lowered their target price on shares of Estée Lauder Companies from $100.00 to $75.00 and set a “hold” rating for the company in a research note on Friday. B. Riley started coverage on shares of Estée Lauder Companies in a report on Tuesday, September 10th. They set a “neutral” rating and a $95.00 price objective on the stock. TD Cowen cut their price target on shares of Estée Lauder Companies from $95.00 to $70.00 and set a “hold” rating on the stock in a report on Friday. DA Davidson reiterated a “buy” rating and issued a $130.00 price target on shares of Estée Lauder Companies in a report on Tuesday, October 29th. Finally, Evercore ISI dropped their price objective on shares of Estée Lauder Companies from $180.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Twenty research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Estée Lauder Companies currently has a consensus rating of “Hold” and an average price target of $104.18.

Estée Lauder Companies Stock Performance

EL stock traded down $2.36 during trading on Friday, reaching $66.58. 11,486,375 shares of the company’s stock were exchanged, compared to its average volume of 4,308,211. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The Estée Lauder Companies Inc. has a 1-year low of $63.36 and a 1-year high of $159.75. The company’s fifty day moving average price is $90.09 and its 200-day moving average price is $106.21. The firm has a market cap of $23.88 billion, a PE ratio of 118.89, a P/E/G ratio of 1.21 and a beta of 1.05.

Estée Lauder Companies (NYSE:EL) last announced its earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. Estée Lauder Companies’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, research analysts expect that The Estée Lauder Companies Inc. will post 2.95 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Estée Lauder Companies’s dividend payout ratio (DPR) is currently 471.43%.

Estée Lauder Companies Profile

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