Panagora Asset Management Inc. Cuts Stake in The Estée Lauder Companies Inc. (NYSE:EL)

Posted by Defense World Staff on Jun 10th, 2023

Panagora Asset Management Inc. reduced its stake in shares of The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,487 shares of the company’s stock after selling 1,822 shares during the quarter. Panagora Asset Management Inc.’s holdings in Estée Lauder Companies were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in EL. Heritage Wealth Management LLC boosted its stake in Estée Lauder Companies by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 104 shares of the company’s stock worth $26,000 after buying an additional 52 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in Estée Lauder Companies during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. boosted its stake in 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 buying an additional 40 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in Estée Lauder Companies by 614.3% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 150 shares of the company’s stock worth $37,000 after buying an additional 129 shares during the period. Finally, Elequin Securities LLC purchased a new position in Estée Lauder Companies during the fourth quarter worth $37,000. 55.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Estée Lauder Companies news, insider Hudis Jane Hertzmark sold 9,869 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $199.95, for a total value of $1,973,306.55. Following the sale, the insider now owns 11,406 shares in the company, valued at approximately $2,280,629.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on EL shares. 22nd Century Group reissued a “maintains” rating on shares of Estée Lauder Companies in a research note on Tuesday, May 9th. Societe Generale raised shares of Estée Lauder Companies from a “hold” rating to a “buy” rating and set a $294.00 target price for the company in a research note on Wednesday, March 8th. UBS Group lowered their target price on shares of Estée Lauder Companies from $278.00 to $221.00 in a research note on Thursday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Estée Lauder Companies from $300.00 to $288.00 in a research note on Monday, March 20th. Finally, TD Cowen initiated coverage on shares of Estée Lauder Companies in a research note on Tuesday, March 14th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Estée Lauder Companies presently has an average rating of “Moderate Buy” and an average target price of $263.38.

Estée Lauder Companies Stock Performance

EL opened at $176.53 on Friday. The Estée Lauder Companies Inc. has a 52-week low of $175.83 and a 52-week high of $284.45. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The company has a market cap of $63.09 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 5.88 and a beta of 1.02. The firm’s 50-day moving average price is $217.52 and its 200-day moving average price is $237.95.

Estée Lauder Companies (NYSE:EL – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.04). Estée Lauder Companies had a return on equity of 23.99% and a net margin of 6.88%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company posted $1.90 EPS. Estée Lauder Companies’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Estée Lauder Companies Inc. will post 3.35 EPS for the current fiscal year.

Estée Lauder Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $2.64 annualized dividend and a yield of 1.50%. Estée Lauder Companies’s dividend payout ratio (DPR) is presently 87.71%.

Estée Lauder Companies Company Profile

(Get Rating)

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.