Hsbc Holdings PLC decreased its stake in The Estee Lauder Companies Inc. (NYSE:EL – Free Report) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 509,124 shares of the company’s stock after selling 23,321 shares during the period. Hsbc Holdings PLC owned 0.14% of Estee Lauder Companies worth $33,527,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG increased 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. increased 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 increased 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. increased 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 grew its stake in Estee Lauder Companies by 27.0% during the first quarter. GAMMA Investing LLC now owns 3,620 shares of the company’s stock worth $239,000 after purchasing an additional 770 shares during the period. Institutional investors and hedge funds own 55.15% of the company’s stock.
Estee Lauder Companies Stock Up 3.8%
Shares of NYSE:EL opened at $91.0830 on Friday. The business’s 50 day simple moving average is $86.79 and its two-hundred day simple moving average is $72.25. The firm has a market cap of $32.77 billion, a P/E ratio of -29.01, a PEG ratio of 6.80 and a beta of 1.18. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.02 and a current ratio of 1.30. The Estee Lauder Companies Inc. has a 52-week low of $48.37 and a 52-week high of $103.44.
Estee Lauder Companies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.35 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 1.5%. Estee Lauder Companies’s dividend payout ratio is presently -44.59%.
Analysts Set New Price Targets
Several equities research analysts recently commented on EL shares. 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 note on Friday, May 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $99.00 target price on shares of Estee Lauder Companies in a research note on Wednesday. Bank of America started coverage on Estee Lauder Companies in a research note on Thursday, July 10th. They set a “buy” rating and a $110.00 target price for the company. Canaccord Genuity Group raised their target price on Estee Lauder Companies from $62.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, August 18th. Finally, Hsbc Global Res raised Estee Lauder Companies from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Estee Lauder Companies has a consensus rating of “Hold” and a consensus target price of $87.80.
Get Our Latest Report on Estee Lauder Companies
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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