Bank of Nova Scotia Trust Co. Sells 5,420 Shares of The Estee Lauder Companies Inc. (NYSE:EL)

Key Points

• Bank of Nova Scotia Trust Co. reduced its stake in Estee Lauder Companies Inc. by 54.2%, selling 5,420 shares and ending the period with 4,580 shares valued at approximately $302,000.
• Several institutional investors, including FMR LLC and Independent Franchise Partners LLP, significantly increased their stakes in Estee Lauder during the 4th quarter, contributing to over 55% institutional ownership of the stock.
• Analysts show a mixed sentiment with price target estimates ranging from $62.00 to $99.00, reflecting upgrades and downgrades, leading to an average target price of $84.50 and a general "Hold" rating for the stock.

Bank of Nova Scotia Trust Co. decreased its position in The Estee Lauder Companies Inc. (NYSE:EL - Free Report) by 54.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,580 shares of the company's stock after selling 5,420 shares during the period. Bank of Nova Scotia Trust Co.'s holdings in Estee Lauder Companies were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Estee Lauder Companies by 163.8% in the 4th quarter. FMR LLC now owns 14,382,579 shares of the company's stock valued at $1,078,406,000 after purchasing an additional 8,930,011 shares during the period. Independent Franchise Partners LLP boosted its stake in Estee Lauder Companies by 45.5% in the 4th quarter. Independent Franchise Partners LLP now owns 7,858,158 shares of the company's stock valued at $589,205,000 after purchasing an additional 2,458,379 shares during the period. Capital World Investors acquired a new stake in Estee Lauder Companies in the 4th quarter worth about $554,509,000. Invesco Ltd. lifted its position in shares of Estee Lauder Companies by 148.9% during the 4th quarter. Invesco Ltd. now owns 5,481,248 shares of the company's stock valued at $410,984,000 after acquiring an additional 3,278,632 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Estee Lauder Companies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,796,317 shares of the company's stock valued at $358,515,000 after buying an additional 117,163 shares in the last quarter. 55.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group boosted their price target on shares of Estee Lauder Companies from $62.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Estee Lauder Companies from a "hold" rating to a "buy" rating and upped their target price for the stock from $71.00 to $95.00 in a report on Monday, June 23rd. Citigroup lifted their price target on Estee Lauder Companies from $60.00 to $99.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Canaccord Genuity Group lowered their price objective on Estee Lauder Companies from $70.00 to $62.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $75.00 target price (down previously from $92.00) on shares of Estee Lauder Companies in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $84.50.

Estee Lauder Companies Stock Down 2.5%

EL stock opened at $90.96 on Friday. The Estee Lauder Companies Inc. has a twelve month low of $48.37 and a twelve month high of $103.44. The stock has a market cap of $32.72 billion, a P/E ratio of -37.59, a PEG ratio of 6.50 and a beta of 1.18. The business's 50-day moving average price is $80.01 and its 200-day moving average price is $71.13. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.68.

Estee Lauder Companies (NYSE:EL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.36. Estee Lauder Companies had a positive return on equity of 15.60% and a negative net margin of 5.89%. The business had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period last year, the firm earned $0.97 earnings per share. The business's quarterly revenue was down 9.9% on a year-over-year basis. On average, equities research analysts forecast that The Estee Lauder Companies Inc. will post 1.36 EPS for the current year.

Estee 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, and powders, as well as compacts, brushes, and other makeup tools.

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