EFG Asset Management Americas Corp. Has $969,000 Holdings in The Estée Lauder Companies Inc. (NYSE:EL)

EFG Asset Management Americas Corp. grew its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 69.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,110 shares of the company’s stock after buying an additional 3,729 shares during the period. EFG Asset Management Americas Corp.’s holdings in Estée Lauder Companies were worth $969,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Estée Lauder Companies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 67,528 shares of the company’s stock worth $7,185,000 after buying an additional 864 shares during the period. 9258 Wealth Management LLC boosted its holdings in shares of Estée Lauder Companies by 9.2% during the second quarter. 9258 Wealth Management LLC now owns 3,621 shares of the company’s stock worth $385,000 after acquiring an additional 304 shares during the period. National Bank of Canada FI boosted its holdings in shares of Estée Lauder Companies by 16.3% during the second quarter. National Bank of Canada FI now owns 120,370 shares of the company’s stock worth $12,676,000 after acquiring an additional 16,894 shares during the period. Meridian Wealth Advisors LLC increased its stake in shares of Estée Lauder Companies by 3.4% during the second quarter. Meridian Wealth Advisors LLC now owns 14,415 shares of the company’s stock worth $1,534,000 after purchasing an additional 472 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Estée Lauder Companies by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 103,134 shares of the company’s stock worth $10,973,000 after purchasing an additional 2,118 shares during the last quarter. 55.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Lynn Forester sold 3,890 shares of the business’s 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 transaction, the director now owns 15,209 shares in the company, valued at $1,423,714.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Charlene Barshefsky sold 3,437 shares of the 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 transaction, the director now owns 49,800 shares of the company’s stock, valued at approximately $4,578,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Forester sold 3,890 shares of the business’s stock in a transaction dated 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.

Estée Lauder Companies Trading Down 2.9 %

NYSE EL traded down $2.57 on Friday, hitting $87.50. The company’s stock had a trading volume of 3,868,894 shares, compared to its average volume of 3,087,757. The company’s 50-day moving average is $96.71 and its 200 day moving average is $122.45. The firm has a market cap of $31.37 billion, a PE ratio of 49.15, a PEG ratio of 1.53 and a beta of 0.99. The Estée Lauder Companies Inc. has a 1-year low of $86.05 and a 1-year high of $159.75. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 1.37.

Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Monday, August 19th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.39. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Estée Lauder Companies had a return on equity of 16.91% and a net margin of 2.50%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, analysts predict that The Estée Lauder Companies Inc. will post 2.99 earnings per share for the current fiscal year.

Estée Lauder Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, August 30th. Estée Lauder Companies’s dividend payout ratio is currently 148.31%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com raised Estée Lauder Companies from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Piper Sandler raised shares of Estée Lauder Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $95.00 to $114.00 in a research report on Thursday, August 22nd. The Goldman Sachs Group cut their price objective on shares of Estée Lauder Companies from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Morgan Stanley lowered their target price on shares of Estée Lauder Companies from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $115.00 price target on shares of Estée Lauder Companies in a research note on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.77.

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.