ICICI Prudential Asset Management Co Ltd Purchases 32,215 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

ICICI Prudential Asset Management Co Ltd grew its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 40.9% in the 3rd quarter, Holdings Channel reports. The fund owned 111,012 shares of the company’s stock after purchasing an additional 32,215 shares during the quarter. Estée Lauder Companies accounts for 1.2% of ICICI Prudential Asset Management Co Ltd’s portfolio, making the stock its 15th biggest position. ICICI Prudential Asset Management Co Ltd’s holdings in Estée Lauder Companies were worth $11,067,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Armistice Capital LLC grew its position in Estée Lauder Companies by 111.8% in the second quarter. Armistice Capital LLC now owns 182,312 shares of the company’s stock valued at $19,398,000 after purchasing an additional 96,239 shares in the last quarter. Marshall Wace LLP increased its holdings in Estée Lauder Companies by 3,065.6% during the second quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock worth $211,000,000 after buying an additional 1,920,439 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Estée Lauder Companies in the second quarter valued at approximately $6,043,000. Transcend Capital Advisors LLC bought a new position in shares of Estée Lauder Companies during the 2nd quarter worth approximately $558,000. Finally, Price T Rowe Associates Inc. MD increased 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 worth $56,608,000 after acquiring an additional 5,915 shares during the last quarter. Institutional investors own 55.15% of the company’s stock.

Insider Activity at Estée Lauder Companies

In related news, CEO Fabrizio Freda sold 10,969 shares of Estée Lauder Companies stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $67.76, for a total value of $743,259.44. Following the completion of the sale, the chief executive officer now directly owns 295,838 shares in the company, valued at $20,045,982.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the stock in a transaction on 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 directly owns 15,209 shares of the company’s stock, valued at $1,423,714.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fabrizio Freda sold 10,969 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $67.76, for a total transaction of $743,259.44. Following the completion of the sale, the chief executive officer now owns 295,838 shares of the company’s stock, valued at approximately $20,045,982.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,296 shares of company stock valued at $1,423,366 over the last 90 days. Insiders own 12.78% of the company’s stock.

Wall Street Analyst Weigh In

EL has been the topic of several recent research reports. Piper Sandler increased their price objective on Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $105.00 target price on shares of Estée Lauder Companies in a report on Thursday, October 31st. Raymond James lowered Estée Lauder Companies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Estée Lauder Companies from $98.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Citigroup downgraded Estée Lauder Companies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $80.00 in a report on Thursday, October 31st. Nineteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.90.

Estée Lauder Companies Trading Up 1.4 %

EL traded up $0.90 during trading on Wednesday, reaching $63.64. The company had a trading volume of 1,102,620 shares, compared to its average volume of 3,444,655. The Estée Lauder Companies Inc. has a 52 week low of $62.29 and a 52 week high of $159.75. The business has a 50 day simple moving average of $86.23 and a 200-day simple moving average of $101.95. The stock has a market cap of $22.85 billion, a P/E ratio of 112.07, a PEG ratio of 3.90 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Estée Lauder Companies (NYSE:EL) last issued its earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, equities analysts anticipate that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. Estée Lauder Companies’s dividend payout ratio (DPR) is presently 471.43%.

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.