The Estée Lauder Companies Inc. (NYSE:EL) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 91,569 shares of the company’s stock after purchasing an additional 12,192 shares during the period. Cibc World Markets Corp’s holdings in Estée Lauder Companies were worth $6,866,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Centre Asset Management LLC acquired a new position in Estée Lauder Companies in the fourth quarter worth $8,585,000. Franklin Resources Inc. boosted its holdings in shares of Estée Lauder Companies by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 141,804 shares of the company’s stock valued at $13,392,000 after buying an additional 45,687 shares during the period. Harrell Investment Partners LLC boosted its holdings in shares of Estée Lauder Companies by 52.1% in the 4th quarter. Harrell Investment Partners LLC now owns 10,285 shares of the company’s stock valued at $771,000 after buying an additional 3,524 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Estée Lauder Companies by 79.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,723,746 shares of the company’s stock valued at $570,600,000 after buying an additional 2,533,006 shares during the last quarter. Finally, Paloma Partners Management Co raised its stake in Estée Lauder Companies by 729.4% during the third quarter. Paloma Partners Management Co now owns 47,500 shares of the company’s stock worth $4,735,000 after acquiring an additional 41,773 shares during the period. Institutional investors own 55.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on EL shares. UBS Group upped their target price on Estée Lauder Companies from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Piper Sandler increased their target price on Estée Lauder Companies from $91.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Estée Lauder Companies from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Canaccord Genuity Group dropped their price objective on shares of Estée Lauder Companies from $76.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Finally, CICC Research initiated coverage on shares of Estée Lauder Companies in a research note on Friday, December 27th. They set a “market perform” rating and a $82.00 target price for the company. Twenty investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Estée Lauder Companies currently has an average rating of “Hold” and a consensus price target of $86.00.

Insider Activity

In other Estée Lauder Companies news, Director Paul J. Fribourg bought 43,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $66.35 per share, with a total value of $2,853,050.00. Following the completion of the transaction, the director now directly owns 430,800 shares in the company, valued at approximately $28,583,580. This represents a 11.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akhil Shrivastava purchased 700 shares of the stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $65.79 per share, for a total transaction of $46,053.00. Following the acquisition, the chief financial officer now directly owns 2,381 shares of the company’s stock, valued at $156,645.99. This represents a 41.64 % increase in their position. The disclosure for this purchase can be found here. 12.78% of the stock is currently owned by company insiders.

Estée Lauder Companies Price Performance

Shares of NYSE EL opened at $68.03 on Wednesday. The firm has a 50-day moving average of $73.33 and a two-hundred day moving average of $78.33. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of -34.89, a PEG ratio of 6.09 and a beta of 1.08. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.75. The Estée Lauder Companies Inc. has a twelve month low of $62.29 and a twelve month high of $155.73.

Estée Lauder Companies (NYSE:EL) last issued its earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.30. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Estée Lauder Companies had a negative net margin of 4.61% and a positive return on equity of 16.82%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, analysts expect that The Estée Lauder Companies Inc. will post 1.36 earnings per share for the current fiscal year.

Estée Lauder Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, February 28th. Estée Lauder Companies’s dividend payout ratio (DPR) is presently -71.79%.

About Estée Lauder Companies

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.