The Estée Lauder Companies Inc. (NYSE:EL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 62,551 shares of the company’s stock after selling 7,377 shares during the period. Corebridge Financial Inc.’s holdings in Estée Lauder Companies were worth $4,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Estée Lauder Companies by 9.5% during the 4th quarter. Vanguard Group Inc. now owns 27,014,303 shares of the company’s stock valued at $2,025,532,000 after acquiring an additional 2,344,210 shares during the last quarter. State Street Corp raised its stake in shares of Estée Lauder Companies by 9.5% during the third quarter. State Street Corp now owns 10,575,926 shares of the company’s stock worth $1,054,314,000 after purchasing an additional 913,470 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Estée Lauder Companies by 23.6% during the fourth quarter. Van ECK Associates Corp now owns 4,996,404 shares of the company’s stock worth $374,630,000 after purchasing an additional 954,493 shares during the period. Geode Capital Management LLC grew its position in Estée Lauder Companies by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,679,154 shares of the company’s stock valued at $464,587,000 after buying an additional 70,307 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Estée Lauder Companies by 11,026.8% in the 4th quarter. American Century Companies Inc. now owns 3,343,607 shares of the company’s stock valued at $250,704,000 after buying an additional 3,313,557 shares during the period. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Insider Buying and Selling

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

Estée Lauder Companies Stock Down 2.3 %

Shares of NYSE EL opened at $65.42 on Monday. The firm’s 50-day moving average is $72.02 and its two-hundred day moving average is $77.09. The company has a market capitalization of $23.48 billion, a PE ratio of -33.55, a price-to-earnings-growth ratio of 6.09 and a beta of 1.08. The Estée Lauder Companies Inc. has a 12-month low of $62.29 and a 12-month high of $155.73. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.37 and a quick ratio of 0.97.

Estée Lauder Companies (NYSE:EL) last posted its earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.30. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.98 billion. Estée Lauder Companies had a positive return on equity of 16.82% and a negative net margin of 4.61%. Estée Lauder Companies’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Equities analysts anticipate that The Estée Lauder Companies Inc. will post 1.36 EPS for the current fiscal year.

Estée Lauder Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, February 28th. Estée Lauder Companies’s dividend payout ratio is presently -71.79%.

Analysts Set New Price Targets

EL has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of Estée Lauder Companies from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley lowered their price objective on Estée Lauder Companies from $85.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Telsey Advisory Group reissued a “market perform” rating and set a $76.00 target price on shares of Estée Lauder Companies in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on Estée Lauder Companies from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group cut their price objective on Estée Lauder Companies from $76.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Twenty research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Estée Lauder Companies currently has an average rating of “Hold” and a consensus price target of $86.00.

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.