State of Michigan Retirement System Purchases 6,383 Shares of Estee Lauder Companies Inc (NYSE:EL)

State of Michigan Retirement System increased its holdings in Estee Lauder Companies Inc (NYSE:EL) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,401 shares of the company’s stock after acquiring an additional 6,383 shares during the period. State of Michigan Retirement System’s holdings in Estee Lauder Companies were worth $10,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in Estee Lauder Companies by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 10,825 shares of the company’s stock valued at $2,236,000 after acquiring an additional 1,286 shares during the last quarter. Franklin Resources Inc. lifted its stake in Estee Lauder Companies by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 361,596 shares of the company’s stock valued at $74,685,000 after purchasing an additional 17,050 shares during the last quarter. Fulton Bank N.A. grew its holdings in Estee Lauder Companies by 10.9% during the first quarter. Fulton Bank N.A. now owns 4,619 shares of the company’s stock valued at $736,000 after purchasing an additional 453 shares during the period. State of Alaska Department of Revenue increased its position in Estee Lauder Companies by 7.4% in the first quarter. State of Alaska Department of Revenue now owns 81,571 shares of the company’s stock worth $12,996,000 after buying an additional 5,625 shares during the last quarter. Finally, LGT Capital Partners LTD. raised its stake in shares of Estee Lauder Companies by 32.8% in the first quarter. LGT Capital Partners LTD. now owns 475,270 shares of the company’s stock valued at $75,730,000 after buying an additional 117,297 shares during the period. 55.58% of the stock is owned by institutional investors.

NYSE EL opened at $197.54 on Friday. Estee Lauder Companies Inc has a 52-week low of $137.01 and a 52-week high of $220.42. The company has a fifty day moving average of $191.73 and a 200-day moving average of $186.46. The company has a market capitalization of $71.11 billion, a P/E ratio of 55.80, a P/E/G ratio of 4.01 and a beta of 0.79. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.26 and a current ratio of 1.63.

Estee Lauder Companies (NYSE:EL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.10 billion. Estee Lauder Companies had a return on equity of 43.18% and a net margin of 8.43%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. As a group, analysts forecast that Estee Lauder Companies Inc will post 4.4 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Estee Lauder Companies from $180.00 to $198.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Credit Suisse Group boosted their price target on shares of Estee Lauder Companies from $187.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. DA Davidson raised their price objective on shares of Estee Lauder Companies from $150.00 to $183.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. They noted that the move was a valuation call. UBS Group boosted their target price on shares of Estee Lauder Companies from $145.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Piper Sandler raised Estee Lauder Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $158.00 to $238.00 in a report on Monday, June 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Estee Lauder Companies has an average rating of “Hold” and a consensus target price of $194.14.

In other Estee Lauder Companies news, insider Hudis Jane Hertzmark sold 12,601 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $174.15, for a total value of $2,194,464.15. Following the completion of the sale, the insider now directly owns 43,329 shares of the company’s stock, valued at $7,545,745.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jane Lauder sold 35,596 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $171.45, for a total transaction of $6,102,934.20. Following the sale, the director now owns 82,930 shares of the company’s stock, valued at $14,218,348.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,430 shares of company stock worth $11,143,837. 14.68% of the stock is currently owned by insiders.

Estee Lauder Companies Profile

The Estée Lauder Companies Inc manufactures and markets skin care, makeup, fragrance, and hair care products. The company offers a range of skin care products, such as moisturizers, serums, cleansers, toners, body care products, exfoliators, acne care products, facial masks, cleansing devices, and sun care products; and makeup products, including lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as related items, including compacts, brushes, and other makeup tools.

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Institutional Ownership by Quarter for Estee Lauder Companies (NYSE:EL)

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