Eastern Bank Acquires Shares of 1,531 The Estée Lauder Companies Inc. (NYSE:EL)

Eastern Bank acquired a new stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,531 shares of the company’s stock, valued at approximately $153,000.

A number of other hedge funds also recently bought and sold shares of EL. Marshall Wace LLP lifted its position in Estée Lauder Companies by 3,065.6% in the second quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock valued at $211,000,000 after buying an additional 1,920,439 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Estée Lauder Companies in the 1st quarter worth approximately $291,171,000. Vanguard Group Inc. boosted its position in shares of Estée Lauder Companies by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 20,686,550 shares of the company’s stock worth $3,188,832,000 after purchasing an additional 1,250,555 shares during the period. Independent Franchise Partners LLP increased its holdings in Estée Lauder Companies by 44.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock valued at $368,788,000 after purchasing an additional 1,066,320 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Estée Lauder Companies in the first quarter valued at approximately $82,664,000. Institutional investors and hedge funds own 55.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Estée Lauder Companies from $105.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. DA Davidson restated a “buy” rating and issued a $130.00 price objective on shares of Estée Lauder Companies in a report on Tuesday, October 15th. Piper Sandler increased their target price on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. UBS Group dropped their price target on shares of Estée Lauder Companies from $115.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Raymond James cut Estée Lauder Companies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 22nd. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.91.

Estée Lauder Companies Price Performance

Shares of EL opened at $88.63 on Friday. The firm has a fifty day moving average price of $91.58 and a 200 day moving average price of $109.15. The stock has a market cap of $31.78 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The Estée Lauder Companies Inc. has a 1-year low of $82.39 and a 1-year high of $159.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.39 and a quick ratio of 1.01.

Estée Lauder Companies (NYSE:EL) last announced its earnings results on Monday, August 19th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.39. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Estée Lauder Companies had a return on equity of 16.91% and a net margin of 2.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, sell-side analysts anticipate that The Estée Lauder Companies Inc. will post 2.97 EPS for the current year.

Estée Lauder Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.66 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.64 annualized dividend and a yield of 2.98%. Estée Lauder Companies’s dividend payout ratio (DPR) is 148.31%.

Insider Buying and Selling

In other news, Director Charlene Barshefsky sold 3,437 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the sale, the director now owns 49,800 shares in the company, valued at approximately $4,578,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the transaction, the director now owns 49,800 shares in the company, valued at approximately $4,578,114. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Forester sold 3,890 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the completion of the transaction, the director now owns 15,209 shares of the company’s stock, valued at $1,423,714.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.77% of the stock is owned by company insiders.

Estée 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.