Bank Pictet & Cie Europe AG Sells 17,613 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Bank Pictet & Cie Europe AG reduced its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 16.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,510 shares of the company’s stock after selling 17,613 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Estée Lauder Companies were worth $8,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of EL. Armistice Capital LLC boosted its stake in shares of Estée Lauder Companies by 111.8% in the 2nd quarter. Armistice Capital LLC now owns 182,312 shares of the company’s stock worth $19,398,000 after buying an additional 96,239 shares during the last quarter. BNP Paribas purchased a new position in Estée Lauder Companies in the first quarter worth about $997,000. Marshall Wace LLP grew its stake in shares of Estée Lauder Companies by 3,065.6% during the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock valued at $211,000,000 after purchasing an additional 1,920,439 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Estée Lauder Companies during the 2nd quarter valued at about $6,043,000. Finally, Transcend Capital Advisors LLC bought a new position in shares of Estée Lauder Companies in the 2nd quarter worth approximately $558,000. 55.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lynn Forester sold 3,890 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the transaction, the director now owns 15,209 shares in the company, valued at $1,423,714.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Charlene Barshefsky sold 3,437 shares of the business’s 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 sale, the director now owns 49,800 shares of the company’s stock, valued at approximately $4,578,114. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Forester sold 3,890 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,423,714.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.77% of the company’s stock.

Estée Lauder Companies Stock Down 1.9 %

Shares of NYSE EL opened at $87.59 on Wednesday. The company has a market cap of $31.41 billion, a P/E ratio of 49.21, a PEG ratio of 1.58 and a beta of 1.01. The firm has a 50-day simple moving average of $91.66 and a two-hundred day simple moving average of $109.30. The Estée Lauder Companies Inc. has a 1 year low of $82.39 and a 1 year high of $159.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.39 and a quick ratio of 1.01.

Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Monday, August 19th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.39. Estée Lauder Companies had a net margin of 2.50% and a return on equity of 16.91%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts anticipate that The Estée Lauder Companies Inc. will post 2.97 earnings per share for the current year.

Estée Lauder Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, August 30th. Estée Lauder Companies’s dividend payout ratio (DPR) is currently 148.31%.

Wall Street Analysts Forecast Growth

EL has been the subject of several recent research reports. Stifel Nicolaus cut their target price on shares of Estée Lauder Companies from $165.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and issued a $131.00 price objective on shares of Estée Lauder Companies in a research note on Tuesday, August 20th. Evercore ISI decreased their target price on Estée Lauder Companies from $180.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Canaccord Genuity Group reissued a “hold” rating and set a $100.00 price target on shares of Estée Lauder Companies in a report on Tuesday, August 20th. Finally, Piper Sandler raised their price objective on Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $117.36.

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.