The Manufacturers Life Insurance Company trimmed its holdings in The Estee Lauder Companies Inc. (NYSE:EL - Free Report) by 69.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,692 shares of the company's stock after selling 291,370 shares during the period. The Manufacturers Life Insurance Company's holdings in Estee Lauder Companies were worth $9,308,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in EL. REAP Financial Group LLC acquired a new position in Estee Lauder Companies during the 4th quarter valued at about $27,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new position in shares of Estee Lauder Companies during the fourth quarter valued at approximately $27,000. Flagship Harbor Advisors LLC purchased a new position in shares of Estee Lauder Companies during the fourth quarter valued at approximately $32,000. N.E.W. Advisory Services LLC grew its holdings in Estee Lauder Companies by 39.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 324 shares of the company's stock worth $34,000 after buying an additional 91 shares in the last quarter. Finally, DV Equities LLC bought a new stake in Estee Lauder Companies during the fourth quarter worth $36,000. 55.15% of the stock is owned by institutional investors.
Analysts Set New Price Targets
EL has been the topic of several recent analyst reports. Sanford C. Bernstein started coverage on Estee Lauder Companies in a research note on Friday, June 12th. They set a "market perform" rating and a $82.00 price objective on the stock. Piper Sandler initiated coverage on shares of Estee Lauder Companies in a report on Friday, May 15th. They issued an "overweight" rating and a $95.00 target price for the company. Citigroup raised their price target on shares of Estee Lauder Companies from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Canaccord Genuity Group upped their price objective on shares of Estee Lauder Companies from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Finally, UBS Group increased their price objective on shares of Estee Lauder Companies from $85.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $96.95.
View Our Latest Analysis on EL
Estee Lauder Companies Trading Up 1.0%
Shares of EL stock opened at $84.71 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 1.71. The firm has a market cap of $30.65 billion, a P/E ratio of -121.01, a PEG ratio of 0.65 and a beta of 1.25. The company has a 50 day moving average of $84.03 and a 200-day moving average of $89.10. The Estee Lauder Companies Inc. has a 12-month low of $66.22 and a 12-month high of $121.64.
Estee Lauder Companies (NYSE:EL - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.25. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.69 billion. Estee Lauder Companies had a positive return on equity of 20.66% and a negative net margin of 1.67%.Estee Lauder Companies's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. Sell-side analysts anticipate that The Estee Lauder Companies Inc. will post 2.41 earnings per share for the current year.
Estee Lauder Companies Profile
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Free Report)
Estée Lauder Companies Inc NYSE: EL is a global leader in prestige beauty that develops, manufactures and markets a broad portfolio of skincare, makeup, fragrance and hair care products. Founded in 1946 by Estée Lauder, the company has grown from a small family business into a multinational consumer-products enterprise headquartered in New York City. Its activities span product research and development, brand and product marketing, manufacturing and global distribution across multiple retail channels.
The company's portfolio includes a mix of legacy and prestige brands that target different consumer segments and price points, with well-known names such as Estée Lauder, Clinique, MAC, La Mer and Jo Malone among others.
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