OVERSEA CHINESE BANKING Corp Ltd Acquires 2,816 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 34.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,936 shares of the company’s stock after acquiring an additional 2,816 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Estée Lauder Companies were worth $816,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of Estée Lauder Companies by 9.5% in the third quarter. State Street Corp now owns 10,575,926 shares of the company’s stock valued at $1,054,314,000 after acquiring an additional 913,470 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Estée Lauder Companies by 79.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,723,746 shares of the company’s stock valued at $570,600,000 after acquiring an additional 2,533,006 shares during the period. Van ECK Associates Corp boosted its position in shares of Estée Lauder Companies by 23.6% in the fourth quarter. Van ECK Associates Corp now owns 4,996,404 shares of the company’s stock valued at $374,630,000 after acquiring an additional 954,493 shares during the period. Geode Capital Management LLC boosted its position in shares of Estée Lauder Companies by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,679,154 shares of the company’s stock valued at $464,587,000 after acquiring an additional 70,307 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Estée Lauder Companies by 81.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,971,550 shares of the company’s stock valued at $222,807,000 after purchasing an additional 1,330,840 shares in the last quarter. Institutional investors own 55.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EL. CICC Research started coverage on shares of Estée Lauder Companies in a research report on Friday, December 27th. They issued a “market perform” rating and a $82.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Estée Lauder Companies from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler increased their price target on shares of Estée Lauder Companies from $91.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Estée Lauder Companies in a research report on Friday, January 31st. Finally, Stifel Nicolaus reduced their price target on shares of Estée Lauder Companies from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Twenty investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.00.

Insiders Place Their Bets

In related news, Director Paul J. Fribourg purchased 43,000 shares of Estée Lauder Companies stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $66.35 per share, for a total transaction of $2,853,050.00. Following the completion of the acquisition, the director now owns 430,800 shares of the company’s stock, valued at $28,583,580. This trade represents a 11.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akhil Shrivastava purchased 700 shares of Estée Lauder Companies stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $65.79 per share, with a total value of $46,053.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,381 shares of the company’s stock, valued at approximately $156,645.99. This trade represents a 41.64 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.78% of the company’s stock.

Estée Lauder Companies Price Performance

Shares of NYSE EL opened at $67.68 on Thursday. The Estée Lauder Companies Inc. has a twelve month low of $62.29 and a twelve month high of $155.73. The firm has a fifty day simple moving average of $73.21 and a 200 day simple moving average of $78.25. The company has a market capitalization of $24.30 billion, a PE ratio of -34.71, a P/E/G ratio of 6.09 and a beta of 1.08. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75.

Estée Lauder Companies (NYSE:EL) last announced its earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.30. Estée Lauder Companies had a negative net margin of 4.61% and a positive return on equity of 16.82%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the firm earned $0.88 earnings per share. Estée Lauder Companies’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that The Estée Lauder Companies Inc. will post 1.36 EPS for the current year.

Estée Lauder Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, February 28th. Estée Lauder Companies’s payout ratio is -71.79%.

About Estée Lauder Companies

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.