Lazard Asset Management LLC Sells 2,452,434 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Lazard Asset Management LLC trimmed its position in The Estée Lauder Companies Inc. (NYSE:EL) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 878 shares of the company’s stock after selling 2,452,434 shares during the quarter. Lazard Asset Management LLC’s holdings in Estée Lauder Companies were worth $65,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EL. LRT Capital Management LLC lifted its position in shares of Estée Lauder Companies by 360.6% during the 4th quarter. LRT Capital Management LLC now owns 14,182 shares of the company’s stock valued at $1,063,000 after acquiring an additional 11,103 shares during the period. Ensign Peak Advisors Inc lifted its position in Estée Lauder Companies by 12.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 3,608,142 shares of the company’s stock worth $270,538,000 after purchasing an additional 385,677 shares during the period. EP Wealth Advisors LLC grew its stake in Estée Lauder Companies by 7.3% during the fourth quarter. EP Wealth Advisors LLC now owns 4,334 shares of the company’s stock worth $325,000 after buying an additional 296 shares in the last quarter. CastleKnight Management LP bought a new position in Estée Lauder Companies in the 4th quarter valued at about $1,372,000. Finally, Cetera Investment Advisers raised its position in shares of Estée Lauder Companies by 14.1% in the 4th quarter. Cetera Investment Advisers now owns 27,926 shares of the company’s stock valued at $2,094,000 after buying an additional 3,449 shares in the last quarter. Institutional investors own 55.15% of the company’s stock.

Estée Lauder Companies Trading Down 1.0%

EL opened at $63.75 on Monday. The Estée Lauder Companies Inc. has a twelve month low of $48.37 and a twelve month high of $127.05. The company has a fifty day moving average of $60.40 and a 200-day moving average of $68.80. The stock has a market cap of $22.93 billion, a PE ratio of -32.69, a price-to-earnings-growth ratio of 6.09 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75.

Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.36. Estée Lauder Companies had a positive return on equity of 16.82% and a negative net margin of 4.61%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was down 9.9% on a year-over-year basis. On average, sell-side analysts predict that The Estée Lauder Companies Inc. will post 1.36 EPS for the current year.

Estée Lauder Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, May 30th. Estée Lauder Companies’s dividend payout ratio (DPR) is -57.85%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EL shares. UBS Group lifted their price objective on shares of Estée Lauder Companies from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $75.00 price target (down previously from $92.00) on shares of Estée Lauder Companies in a report on Friday, May 2nd. Barclays dropped their price objective on Estée Lauder Companies from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group decreased their target price on Estée Lauder Companies from $70.00 to $62.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their target price on Estée Lauder Companies from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.20.

Estée Lauder Companies 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.