Pekin Hardy Strauss Inc. Makes New $6.32 Million Investment in The Estée Lauder Companies Inc. (NYSE:EL)

Pekin Hardy Strauss Inc. purchased a new stake in The Estée Lauder Companies Inc. (NYSE:EL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 59,413 shares of the company’s stock, valued at approximately $6,322,000. Estée Lauder Companies comprises approximately 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 25th largest holding.

Other large investors also recently modified their holdings of the company. 9258 Wealth Management LLC boosted its stake in shares of Estée Lauder Companies by 59.3% during the fourth quarter. 9258 Wealth Management LLC now owns 3,043 shares of the company’s stock valued at $445,000 after purchasing an additional 1,133 shares in the last quarter. Financial Advocates Investment Management boosted its position in Estée Lauder Companies by 20.6% during the 4th quarter. Financial Advocates Investment Management now owns 1,807 shares of the company’s stock worth $264,000 after buying an additional 309 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Estée Lauder Companies by 1,137.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 399,807 shares of the company’s stock worth $554,000 after buying an additional 367,503 shares during the period. ING Groep NV grew its holdings in Estée Lauder Companies by 9.3% during the 4th quarter. ING Groep NV now owns 31,803 shares of the company’s stock worth $4,651,000 after acquiring an additional 2,694 shares during the last quarter. Finally, Norges Bank acquired a new position in Estée Lauder Companies in the 4th quarter valued at approximately $518,975,000. 55.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Estée Lauder Companies

In other news, Director Charlene Barshefsky sold 3,437 shares of the business’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 sale, the director now directly owns 49,800 shares of the company’s stock, valued at $4,578,114. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Charlene Barshefsky sold 3,437 shares of Estée Lauder Companies stock in a transaction that occurred 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 transaction, the director now owns 49,800 shares of the company’s stock, valued at $4,578,114. 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 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 completion of the sale, the director now directly owns 15,209 shares of the company’s stock, valued at $1,423,714.49. The disclosure for this sale can be found here. Insiders own 12.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EL. Wells Fargo & Company cut their price target on shares of Estée Lauder Companies from $130.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. B. Riley assumed coverage on Estée Lauder Companies in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $95.00 price target on the stock. Bank of America cut Estée Lauder Companies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $100.00 in a research note on Friday, August 16th. Piper Sandler raised Estée Lauder Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $114.00 in a research note on Thursday, August 22nd. Finally, Morgan Stanley decreased their target price on shares of Estée Lauder Companies from $140.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.27.

Estée Lauder Companies Stock Performance

Shares of Estée Lauder Companies stock opened at $85.13 on Tuesday. The business has a 50-day simple moving average of $94.18 and a 200 day simple moving average of $119.45. The Estée Lauder Companies Inc. has a one year low of $82.39 and a one year high of $159.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market capitalization of $30.54 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.42 and a beta of 1.00.

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

Estée Lauder Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.66 per share. The ex-dividend date was Friday, August 30th. This represents a $2.64 annualized dividend and a yield of 3.10%. Estée Lauder Companies’s payout ratio is 148.32%.

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, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.