Concentric Capital Strategies LP Buys Shares of 41,760 The Estée Lauder Companies Inc. (NYSE:EL)

Concentric Capital Strategies LP purchased a new stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 41,760 shares of the company’s stock, valued at approximately $4,163,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in Estée Lauder Companies by 79.4% during 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 buying an additional 2,533,006 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Estée Lauder Companies by 3,065.6% in the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock worth $211,000,000 after purchasing an additional 1,920,439 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Estée Lauder Companies by 36.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company’s stock worth $402,938,000 after purchasing an additional 1,078,926 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Estée Lauder Companies by 44.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock worth $368,788,000 after purchasing an additional 1,066,320 shares during the period. Finally, Nuance Investments LLC lifted its position in Estée Lauder Companies by 1,127.5% during the third quarter. Nuance Investments LLC now owns 1,059,080 shares of the company’s stock valued at $105,580,000 after purchasing an additional 972,799 shares in the last quarter. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Estée Lauder Companies Stock Performance

NYSE EL opened at $76.03 on Tuesday. The business’s 50 day moving average price is $81.43 and its 200-day moving average price is $95.92. The Estée Lauder Companies Inc. has a fifty-two week low of $62.29 and a fifty-two week high of $159.75. The company has a market cap of $27.29 billion, a P/E ratio of 135.77, a P/E/G ratio of 4.67 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.90 and a current ratio of 1.32.

Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. Sell-side analysts predict that The Estée Lauder Companies Inc. will post 1.48 earnings per share for the current year.

Estée Lauder Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies’s payout ratio is currently 471.43%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler upped their price target 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. DA Davidson reissued a “buy” rating and issued a $81.00 target price on shares of Estée Lauder Companies in a report on Wednesday, November 20th. Canaccord Genuity Group lowered their price target on shares of Estée Lauder Companies from $100.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reduced their price objective on shares of Estée Lauder Companies from $131.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Evercore ISI lowered their target price on shares of Estée Lauder Companies from $180.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Nineteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Estée Lauder Companies currently has a consensus rating of “Hold” and a consensus target price of $98.57.

Insider Buying and Selling at Estée Lauder Companies

In other Estée Lauder Companies news, CEO Fabrizio Freda sold 10,969 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $67.76, for a total value of $743,259.44. Following the transaction, the chief executive officer now directly owns 295,838 shares in the company, valued at $20,045,982.88. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Fribourg purchased 77,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $64.01 per share, with a total value of $4,960,775.00. Following the purchase, the director now directly owns 234,500 shares of the company’s stock, valued at approximately $15,010,345. This represents a 49.36 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.78% of the company’s stock.

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.