Bank of Nova Scotia Has $935,000 Position in The Estee Lauder Companies Inc. (NYSE:EL)

Key Points

• The Bank of Nova Scotia significantly reduced its holdings in The Estee Lauder Companies Inc. by 64.3%, selling 25,527 shares and leaving it with a total of 14,173 shares worth approximately $935,000.
• Recent analyst reports have varied opinions on Estee Lauder, with Bank of America assigning a "buy" rating and a price target of $110, contrasting with Citigroup's neutral rating and a target of $99.
• Estee Lauder stock has seen market fluctuations, trading between a fifty-two week low of $48.37 and a high of $103.44, currently valued at approximately $91.22.

Bank of Nova Scotia trimmed its position in shares of The Estee Lauder Companies Inc. (NYSE:EL - Free Report) by 64.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,173 shares of the company's stock after selling 25,527 shares during the period. Bank of Nova Scotia's holdings in Estee Lauder Companies were worth $935,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG lifted its stake in shares of Estee Lauder Companies by 5.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 91,200 shares of the company's stock valued at $6,838,000 after buying an additional 4,690 shares during the period. Mather Group LLC. lifted its stake in shares of Estee Lauder Companies by 442.5% in the first quarter. Mather Group LLC. now owns 1,367 shares of the company's stock valued at $90,000 after buying an additional 1,115 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Estee Lauder Companies by 57.3% in the first quarter. Golden State Wealth Management LLC now owns 626 shares of the company's stock valued at $41,000 after buying an additional 228 shares during the period. Bessemer Group Inc. lifted its stake in shares of Estee Lauder Companies by 70.2% in the first quarter. Bessemer Group Inc. now owns 4,753 shares of the company's stock valued at $313,000 after buying an additional 1,961 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Estee Lauder Companies by 27.0% in the first quarter. GAMMA Investing LLC now owns 3,620 shares of the company's stock valued at $239,000 after buying an additional 770 shares during the period. 55.15% of the stock is currently owned by institutional investors.

Estee Lauder Companies Price Performance

Shares of NYSE EL traded down $0.46 during mid-day trading on Friday, hitting $90.76. 2,406,866 shares of the stock were exchanged, compared to its average volume of 3,500,320. The company has a market cap of $32.65 billion, a P/E ratio of -37.50, a PEG ratio of 6.47 and a beta of 1.18. The stock's fifty day simple moving average is $82.47 and its two-hundred day simple moving average is $71.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.02 and a current ratio of 1.41. The Estee Lauder Companies Inc. has a twelve month low of $48.37 and a twelve month high of $103.44.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HSBC upgraded shares of Estee Lauder Companies from a "hold" rating to a "buy" rating and increased their target price for the company from $80.00 to $99.00 in a research note on Friday, June 27th. JPMorgan Chase & Co. upgraded shares of Estee Lauder Companies from a "neutral" rating to an "overweight" rating and increased their target price for the company from $62.00 to $101.00 in a research note on Friday, July 25th. Wells Fargo & Company increased their target price on shares of Estee Lauder Companies from $60.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. B. Riley reiterated a "neutral" rating and issued a $60.00 target price (down previously from $70.00) on shares of Estee Lauder Companies in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Estee Lauder Companies from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Estee Lauder Companies has a consensus rating of "Hold" and an average price target of $84.50.

About Estee 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.