Resona Asset Management Co. Ltd. Acquires 6,023 Shares of The Estee Lauder Companies Inc. (NYSE:EL)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in The Estee Lauder Companies by 8.8%, acquiring an additional 6,023 shares in the first quarter, bringing its total to 74,246 shares valued at approximately $4.89 million.
• Several institutional investors, including Bank Pictet & Cie and Mather Group LLC, also increased their positions in Estee Lauder, indicating growing confidence among institutional stakeholders.
• Analysts have mixed outlooks on Estee Lauder, with price targets ranging from $62.00 to $90.00, and an average target price of $85.80 based on recent research reports.

Resona Asset Management Co. Ltd. raised its holdings in shares of The Estee Lauder Companies Inc. (NYSE:EL - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 74,246 shares of the company's stock after acquiring an additional 6,023 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Estee Lauder Companies were worth $4,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EL. Bank Pictet & Cie Europe AG increased its position in shares of Estee Lauder Companies by 5.4% in the 4th 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 in the last quarter. Mather Group LLC. increased its position in shares of Estee Lauder Companies by 442.5% in the 1st 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 in the last quarter. Golden State Wealth Management LLC increased its position in shares of Estee Lauder Companies by 57.3% in the 1st 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 in the last quarter. Bessemer Group Inc. increased its position in shares of Estee Lauder Companies by 70.2% in the 1st 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 in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Estee Lauder Companies by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 3,620 shares of the company's stock valued at $239,000 after buying an additional 770 shares in the last quarter. Institutional investors own 55.15% of the company's stock.

Estee Lauder Companies Trading Up 1.5%

Estee Lauder Companies stock opened at $90.87 on Friday. The firm has a 50-day moving average of $84.79 and a 200-day moving average of $71.95. The Estee Lauder Companies Inc. has a one year low of $48.37 and a one year high of $103.44. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.41 and a quick ratio of 1.02. The company has a market cap of $32.69 billion, a price-to-earnings ratio of -37.55, a P/E/G ratio of 6.39 and a beta of 1.18.

Analysts Set New Price Targets

A number of research firms recently commented on EL. Canaccord Genuity Group lowered their price objective on shares of Estee Lauder Companies from $70.00 to $62.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Piper Sandler restated an "overweight" rating and issued a $75.00 price objective (down previously from $92.00) on shares of Estee Lauder Companies in a research report on Friday, May 2nd. Wells Fargo & Company increased their target price on Estee Lauder Companies from $60.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. B. Riley reiterated a "neutral" rating and set a $60.00 target price (down previously from $70.00) on shares of Estee Lauder Companies in a report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on Estee Lauder Companies from $100.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Estee Lauder Companies has an average rating of "Hold" and an average target price of $85.80.

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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