The Estée Lauder Companies Inc. (NYSE:EL) Shares Purchased by Lincoln National Corp

Posted by Defense World Staff on Jul 24th, 2023

Lincoln National Corp boosted its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL – Free Report) by 38.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,186 shares of the company’s stock after purchasing an additional 887 shares during the quarter. Lincoln National Corp’s holdings in Estée Lauder Companies were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Heritage Wealth Management LLC raised its position in shares of Estée Lauder Companies by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 104 shares of the company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Estée Lauder Companies during the fourth quarter valued at approximately $27,000. North Star Investment Management Corp. lifted its position in shares of Estée Lauder Companies by 1,275.0% in the first quarter. North Star Investment Management Corp. now owns 110 shares of the company’s stock valued at $27,000 after acquiring an additional 102 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Estée Lauder Companies by 52.6% in 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. Finally, Mizuho Securities Co. Ltd. increased its position in shares of 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 purchasing an additional 129 shares in the last quarter. 57.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EL shares. StockNews.com assumed coverage on shares of Estée Lauder Companies in a report on Thursday, May 18th. They set a “hold” rating for the company. Barclays cut shares of Estée Lauder Companies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $210.00 to $193.00 in a research note on Thursday. 22nd Century Group reissued a “maintains” rating on shares of Estée Lauder Companies in a research note on Tuesday, May 9th. Royal Bank of Canada dropped their price target on Estée Lauder Companies from $290.00 to $265.00 in a research report on Thursday, May 4th. Finally, Bank of America reduced their price objective on Estée Lauder Companies from $235.00 to $205.00 in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $261.83.

Estée Lauder Companies Price Performance

Shares of EL opened at $179.66 on Monday. The company has a market cap of $64.21 billion, a P/E ratio of 59.69, a PEG ratio of 5.07 and a beta of 1.02. The Estée Lauder Companies Inc. has a fifty-two week low of $175.05 and a fifty-two 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 firm’s 50 day moving average price is $191.93 and its 200 day moving average price is $228.34.

Estée Lauder Companies (NYSE:EL – Get Free Report) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.04). The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Estée Lauder Companies had a return on equity of 23.99% and a net margin of 6.88%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS. On average, research analysts forecast that The Estée Lauder Companies Inc. will post 3.35 earnings per share for the current fiscal year.

Estée Lauder Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, May 30th. Estée Lauder Companies’s dividend payout ratio is presently 87.71%.

Insider Buying and Selling

In related news, insider Hudis Jane Hertzmark sold 9,869 shares of Estée Lauder Companies stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $199.95, for a total value of $1,973,306.55. Following the completion of the transaction, the insider now owns 11,406 shares in the company, valued at $2,280,629.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.75% of the company’s stock.

Estée Lauder Companies Company Profile

(Free Report)

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.