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

Eastern Bank purchased a new position in The Estée Lauder Companies Inc. (NYSE:EL) in the third quarter, HoldingsChannel.com reports. The fund purchased 1,531 shares of the company’s stock, valued at approximately $153,000.

Several other institutional investors and hedge funds have also made changes to their positions in EL. Armistice Capital LLC raised its position in shares of Estée Lauder Companies by 111.8% in the 2nd quarter. Armistice Capital LLC now owns 182,312 shares of the company’s stock worth $19,398,000 after buying an additional 96,239 shares during the period. BNP Paribas purchased a new stake in shares of Estée Lauder Companies during the 1st quarter worth about $997,000. Marshall Wace LLP increased its position in Estée Lauder Companies by 3,065.6% during the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock worth $211,000,000 after purchasing an additional 1,920,439 shares in the last quarter. Headlands Technologies LLC purchased a new position in Estée Lauder Companies in the second quarter valued at approximately $6,043,000. Finally, Transcend Capital Advisors LLC acquired a new position in Estée Lauder Companies during the second quarter valued at approximately $558,000. 55.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Estée Lauder Companies

In other news, Director Charlene Barshefsky sold 3,437 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $93.61, for a total value of $364,142.90. Following the transaction, the director now directly owns 15,209 shares in the company, valued at $1,423,714.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EL shares. Wells Fargo & Company cut their target price on shares of Estée Lauder Companies from $130.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 20th. B. Riley initiated coverage on Estée Lauder Companies in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $95.00 price objective on the stock. Raymond James downgraded Estée Lauder Companies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 22nd. Piper Sandler raised their target price on Estée Lauder Companies from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Morgan Stanley decreased their price target on Estée Lauder Companies from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Sixteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.91.

Estée Lauder Companies Trading Up 1.0 %

Estée Lauder Companies stock opened at $88.63 on Friday. The Estée Lauder Companies Inc. has a 1 year low of $82.39 and a 1 year high of $159.75. The firm’s 50-day moving average is $91.58 and its 200-day moving average is $109.15. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market cap of $31.78 billion, a P/E ratio of 49.79, a PEG ratio of 1.58 and a beta of 1.01.

Estée Lauder Companies (NYSE:EL) last issued its earnings results on Monday, August 19th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.39. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Estée Lauder Companies had a net margin of 2.50% and a return on equity of 16.91%. Estée Lauder Companies’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. On average, equities analysts expect that The Estée Lauder Companies Inc. will post 2.97 earnings per share for the current year.

Estée Lauder Companies Dividend Announcement

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

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.