Pictet Asset Management Holding SA Sells 141,467 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Pictet Asset Management Holding SA lessened its stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 30.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 316,492 shares of the company’s stock after selling 141,467 shares during the period. Pictet Asset Management Holding SA owned 0.09% of Estée Lauder Companies worth $23,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Estée Lauder Companies by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 147,195 shares of the company’s stock worth $14,674,000 after acquiring an additional 1,809 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Estée Lauder Companies by 26.6% in the third quarter. D.A. Davidson & CO. now owns 5,744 shares of the company’s stock worth $573,000 after purchasing an additional 1,208 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Estée Lauder Companies by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,096 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,100 shares during the period. Verition Fund Management LLC lifted its stake in shares of Estée Lauder Companies by 140.3% during the 3rd quarter. Verition Fund Management LLC now owns 33,491 shares of the company’s stock valued at $3,339,000 after buying an additional 19,552 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Estée Lauder Companies by 128.9% in the 3rd quarter. Edgestream Partners L.P. now owns 15,292 shares of the company’s stock worth $1,524,000 after buying an additional 8,610 shares during the period. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Insider Activity

In related news, CFO Akhil Shrivastava purchased 700 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $65.79 per share, with a total value 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 approximately $156,645.99. The trade was a 41.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul J. Fribourg acquired 43,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $66.35 per share, for a total transaction of $2,853,050.00. Following the purchase, the director now owns 430,800 shares of the company’s stock, valued at $28,583,580. This represents a 11.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.78% of the company’s stock.

Wall Street Analysts Forecast Growth

EL has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Estée Lauder Companies in a research report on Friday, January 31st. Stifel Nicolaus lowered their price target on Estée Lauder Companies from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Piper Sandler upped their price target on Estée Lauder Companies from $91.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on shares of Estée Lauder Companies from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group raised their target price on shares of Estée Lauder Companies from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Twenty equities 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.com, Estée Lauder Companies has a consensus rating of “Hold” and an average target price of $86.00.

Estée Lauder Companies Price Performance

EL stock opened at $66.01 on Tuesday. The stock has a market cap of $23.70 billion, a PE ratio of -33.85, a P/E/G 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 50-day moving average price of $71.78 and a 200 day moving average price of $76.96. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.75.

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

Estée Lauder Companies Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.12%. Estée Lauder Companies’s dividend payout ratio (DPR) is -71.79%.

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.