Silvercrest Asset Management Group LLC Purchases 123,582 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Silvercrest Asset Management Group LLC boosted its position in The Estée Lauder Companies Inc. (NYSE:EL) by 629.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 143,217 shares of the company’s stock after buying an additional 123,582 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Estée Lauder Companies were worth $10,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Estée Lauder Companies by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 27,014,303 shares of the company’s stock worth $2,025,532,000 after buying an additional 2,344,210 shares during the last quarter. FMR LLC grew its stake in shares of Estée Lauder Companies by 163.8% during the fourth quarter. FMR LLC now owns 14,382,579 shares of the company’s stock worth $1,078,406,000 after buying an additional 8,930,011 shares during the last quarter. Independent Franchise Partners LLP grew its stake in shares of Estée Lauder Companies by 45.5% during the fourth quarter. Independent Franchise Partners LLP now owns 7,858,158 shares of the company’s stock worth $589,205,000 after buying an additional 2,458,379 shares during the last quarter. Capital World Investors bought a new stake in shares of Estée Lauder Companies during the fourth quarter worth $554,509,000. Finally, Invesco Ltd. grew its stake in shares of Estée Lauder Companies by 148.9% during the fourth quarter. Invesco Ltd. now owns 5,481,248 shares of the company’s stock worth $410,984,000 after buying an additional 3,278,632 shares during the last quarter. 55.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EL has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price (down previously from $92.00) on shares of Estée Lauder Companies in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Estée Lauder Companies from $80.00 to $78.00 and set a “hold” rating on the stock in a research note on Wednesday, January 22nd. Stifel Nicolaus decreased their target price on shares of Estée Lauder Companies from $77.00 to $67.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Barclays cut their price target on shares of Estée Lauder Companies from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Estée Lauder Companies from $72.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Nineteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.20.

Estée Lauder Companies Price Performance

EL stock opened at $65.19 on Friday. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of -33.43, a PEG ratio of 6.09 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75. The Estée Lauder Companies Inc. has a 12-month low of $48.37 and a 12-month high of $134.63. The company’s fifty day simple moving average is $60.63 and its 200 day simple moving average is $68.84.

Estée Lauder Companies (NYSE:EL) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.36. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $3.51 billion. Estée Lauder Companies had a negative net margin of 4.61% and a positive return on equity of 16.82%. Estée Lauder Companies’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, analysts expect that The Estée Lauder Companies Inc. will post 1.36 earnings per share for the current year.

Estée Lauder Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.40 annualized dividend and a yield of 2.15%. Estée Lauder Companies’s payout ratio is -57.85%.

Estée Lauder Companies 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.