Pinnacle Associates Ltd. Sells 303 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Posted by Defense World Staff on Apr 7th, 2023

Pinnacle Associates Ltd. cut its position in shares of The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,109 shares of the company’s stock after selling 303 shares during the period. Pinnacle Associates Ltd.’s holdings in Estée Lauder Companies were worth $904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EL. Vigilant Capital Management LLC boosted its stake in Estée Lauder Companies by 280.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 114 shares of the company’s stock valued at $25,000 after buying an additional 84 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Estée Lauder Companies by 52.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 116 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. BDO Wealth Advisors LLC raised its position in shares of Estée Lauder Companies by 450.0% during the second quarter. BDO Wealth Advisors LLC now owns 132 shares of the company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. Align Wealth Management LLC bought a new stake in Estée Lauder Companies in the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC increased its holdings in Estée Lauder Companies by 496.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 167 shares of the company’s stock valued at $41,000 after purchasing an additional 139 shares during the last quarter. 55.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EL. Societe Generale upgraded Estée Lauder Companies from a “hold” rating to a “buy” rating and set a $294.00 price objective for the company in a report on Wednesday, March 8th. Piper Sandler increased their price target on Estée Lauder Companies from $298.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, March 23rd. DA Davidson restated a “buy” rating and issued a $308.00 price target on shares of Estée Lauder Companies in a report on Tuesday, February 14th. Telsey Advisory Group increased their price target on Estée Lauder Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Raymond James upped their price objective on Estée Lauder Companies from $245.00 to $315.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $280.04.

Insider Activity at Estée Lauder Companies

In related news, CEO Fabrizio Freda sold 11,705 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $270.00, for a total transaction of $3,160,350.00. Following the sale, the chief executive officer now owns 125,762 shares of the company’s stock, valued at approximately $33,955,740. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Estée Lauder Companies news, Director Jennifer Hyman sold 5,234 shares of Estée Lauder Companies stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $266.88, for a total transaction of $1,396,849.92. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $266,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fabrizio Freda sold 11,705 shares of Estée Lauder Companies stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $270.00, for a total value of $3,160,350.00. Following the transaction, the chief executive officer now directly owns 125,762 shares in the company, valued at $33,955,740. The disclosure for this sale can be found here. Insiders have sold a total of 33,511 shares of company stock valued at $8,943,120 in the last 90 days. 12.75% of the stock is owned by corporate insiders.

Estée Lauder Companies Trading Up 0.8 %

Shares of EL stock opened at $241.26 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.11 and a current ratio of 1.66. The Estée Lauder Companies Inc. has a fifty-two week low of $186.47 and a fifty-two week high of $285.79. The company has a market cap of $86.18 billion, a PE ratio of 58.70, a P/E/G ratio of 5.41 and a beta of 1.02. The stock’s fifty day moving average price is $249.24 and its two-hundred day moving average price is $238.41.

Estée Lauder Companies (NYSE:EL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.25. Estée Lauder Companies had a return on equity of 32.65% and a net margin of 9.13%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter last year, the business posted $3.01 EPS. Estée Lauder Companies’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities analysts predict that The Estée Lauder Companies Inc. will post 4.97 EPS for the current fiscal year.

Estée Lauder Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, February 27th. Estée Lauder Companies’s dividend payout ratio (DPR) is 64.23%.

Estée Lauder Companies Company Profile

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The Estée Lauder Companies, Inc engages in the manufacture of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MAC, Bobbi Brown, La Mer, Jo Malone London, Aveda and Too Faced. Its channels consist of department stores, multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas.