Wells Fargo & Company Lowers Estée Lauder Companies (NYSE:EL) Price Target to $117.00

Estée Lauder Companies (NYSE:EL) had its price target lowered by Wells Fargo & Company from $130.00 to $117.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. UBS Group dropped their price objective on Estée Lauder Companies from $115.00 to $104.00 and set a neutral rating on the stock in a research note on Tuesday. Raymond James cut shares of Estée Lauder Companies from a strong-buy rating to a market perform rating in a research report on Monday, July 22nd. Piper Sandler reduced their price objective on shares of Estée Lauder Companies from $141.00 to $108.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Bank of America downgraded shares of Estée Lauder Companies from a buy rating to a neutral rating and dropped their target price for the stock from $140.00 to $100.00 in a report on Friday, August 16th. Finally, Canaccord Genuity Group reissued a hold rating and set a $100.00 target price on shares of Estée Lauder Companies in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $124.39.

Estée Lauder Companies Stock Performance

EL stock opened at $93.67 on Tuesday. The company has a 50-day simple moving average of $100.83 and a 200 day simple moving average of $126.09. The company has a market capitalization of $33.59 billion, a P/E ratio of 52.62, a PEG ratio of 1.79 and a beta of 0.99. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 1.26. Estée Lauder Companies has a fifty-two week low of $86.05 and a fifty-two week high of $165.76.

Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Monday, August 19th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.39. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Estée Lauder Companies will post 2.21 earnings per share for the current fiscal year.

Estée Lauder Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, August 30th. Estée Lauder Companies’s dividend payout ratio is currently 148.31%.

Insiders Place Their Bets

In other news, EVP Jane Lauder sold 14,976 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $121.26, for a total value of $1,815,989.76. Following the transaction, the executive vice president now owns 57,389 shares in the company, valued at approximately $6,958,990.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.77% of the company’s stock.

Hedge Funds Weigh In On Estée Lauder Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of Estée Lauder Companies by 113.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 156,583 shares of the company’s stock valued at $22,900,000 after buying an additional 83,320 shares in the last quarter. BNP Paribas bought a new stake in Estée Lauder Companies in the first quarter worth approximately $997,000. Transcend Capital Advisors LLC acquired a new position in shares of Estée Lauder Companies during the 2nd quarter worth $558,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Estée Lauder Companies by 3,477.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 566,180 shares of the company’s stock valued at $82,804,000 after purchasing an additional 550,355 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Estée Lauder Companies by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 367,218 shares of the company’s stock valued at $56,608,000 after purchasing an additional 5,915 shares in the last quarter. 55.15% of the stock is currently owned by hedge funds and other institutional investors.

Estée Lauder Companies Company 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, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.