The Estée Lauder Companies Inc. (NYSE:EL) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,800 shares of the company’s stock after selling 925 shares during the quarter. Morse Asset Management Inc’s holdings in Estée Lauder Companies were worth $1,357,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EL. Wetzel Investment Advisors Inc. raised its position in shares of Estée Lauder Companies by 8.3% in the first quarter. Wetzel Investment Advisors Inc. now owns 885 shares of the company’s stock valued at $128,000 after buying an additional 68 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in Estée Lauder Companies by 34.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 295 shares of the company’s stock worth $45,000 after acquiring an additional 75 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Estée Lauder Companies by 0.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 16,682 shares of the company’s stock worth $2,440,000 after purchasing an additional 76 shares during the period. Haverford Trust Co lifted its stake in shares of Estée Lauder Companies by 2.3% during the 1st quarter. Haverford Trust Co now owns 3,409 shares of the company’s stock worth $525,000 after purchasing an additional 78 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Estée Lauder Companies by 25.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 402 shares of the company’s stock worth $62,000 after purchasing an additional 82 shares during the last quarter. 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 Tracey Thomas Travis sold 14,493 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $135.73, for a total transaction of $1,967,134.89. Following the completion of the transaction, the chief financial officer now owns 47,248 shares in the company, valued at approximately $6,412,971.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jane Lauder sold 14,976 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $121.26, for a total transaction of $1,815,989.76. Following the transaction, the executive vice president now owns 57,389 shares in the company, valued at $6,958,990.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tracey Thomas Travis sold 14,493 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $135.73, for a total value of $1,967,134.89. Following the sale, the chief financial officer now directly owns 47,248 shares in the company, valued at approximately $6,412,971.04. The disclosure for this sale can be found here. Insiders sold 42,255 shares of company stock valued at $5,453,232 in the last three months. 12.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EL has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Estée Lauder Companies from $141.00 to $108.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Bank of America decreased their target price on shares of Estée Lauder Companies from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Raymond James cut shares of Estée Lauder Companies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Estée Lauder Companies from $160.00 to $159.00 in a research report on Wednesday, May 1st. Finally, Barclays lowered their price target on Estée Lauder Companies from $136.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.87.

Estée Lauder Companies Stock Performance

NYSE EL traded up $0.82 during trading hours on Friday, hitting $100.72. The company had a trading volume of 2,046,042 shares, compared to its average volume of 3,046,817. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 1.26. The firm has a market cap of $36.11 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. The Estée Lauder Companies Inc. has a fifty-two week low of $95.87 and a fifty-two week high of $183.20. The business has a fifty day simple moving average of $112.59 and a 200-day simple moving average of $131.44.

Estée Lauder Companies (NYSE:EL) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.49. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Equities analysts predict that The Estée Lauder Companies Inc. will post 2.21 EPS for the current year.

Estée Lauder Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.66 per share. The ex-dividend date was Friday, May 31st. This represents a $2.64 annualized dividend and a dividend yield of 2.62%. Estée Lauder Companies’s dividend payout ratio is presently 148.32%.

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