Oak Harbor Wealth Partners LLC Grows Position in The Estée Lauder Companies Inc. (NYSE:EL)

Oak Harbor Wealth Partners LLC raised its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 62.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,485 shares of the company’s stock after acquiring an additional 2,108 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Estée Lauder Companies were worth $547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP raised its holdings in shares of 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 valued at $211,000,000 after buying an additional 1,920,439 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $3,188,832,000 after buying an additional 1,250,555 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Estée Lauder Companies by 36.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company’s stock valued at $402,938,000 after buying an additional 1,078,926 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Estée Lauder Companies by 44.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock valued at $368,788,000 after buying an additional 1,066,320 shares in the last quarter. Finally, Swedbank AB bought a new position in Estée Lauder Companies during the 1st quarter worth approximately $82,664,000. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Estée Lauder Companies Price Performance

Shares of EL stock opened at $64.82 on Friday. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 115.75, a PEG ratio of 3.80 and a beta of 1.05. The business’s fifty day moving average is $85.64 and its 200 day moving average is $101.68. The Estée Lauder Companies Inc. has a twelve month low of $62.29 and a twelve month high of $159.75. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Estée Lauder Companies (NYSE:EL) last released its earnings results on Thursday, October 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Research analysts expect that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, November 29th. Estée Lauder Companies’s payout ratio is currently 471.43%.

Analysts Set New Price Targets

EL has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Estée Lauder Companies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $113.00 to $74.00 in a research report on Friday, November 1st. Stifel Nicolaus lowered Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their price target on Estée Lauder Companies from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Piper Sandler raised their price target on Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company lowered Estée Lauder Companies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $105.00 to $72.00 in a research report on Thursday, October 31st. Nineteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.90.

Insider Activity

In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $93.61, for a total value of $364,142.90. Following the transaction, the director now owns 15,209 shares of the company’s stock, valued at approximately $1,423,714.49. This represents a 20.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fabrizio Freda sold 10,969 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $67.76, for a total value of $743,259.44. Following the completion of the transaction, the chief executive officer now directly owns 295,838 shares in the company, valued at approximately $20,045,982.88. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,296 shares of company stock valued at $1,423,366 over the last ninety days. 12.78% of the stock is currently owned by corporate insiders.

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.