The Estée Lauder Companies Inc. (NYSE:EL) Stock Position Lowered by MML Investors Services LLC

MML Investors Services LLC trimmed its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,849 shares of the company's stock after selling 8,778 shares during the period. MML Investors Services LLC's holdings in Estée Lauder Companies were worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its position in shares of Estée Lauder Companies by 56.6% in the third quarter. National Bank of Canada FI now owns 188,483 shares of the company's stock worth $18,790,000 after buying an additional 68,113 shares during the period. iA Global Asset Management Inc. acquired a new position in Estée Lauder Companies during the 3rd quarter worth approximately $366,000. EP Wealth Advisors LLC purchased a new position in Estée Lauder Companies in the 3rd quarter worth approximately $403,000. Kovitz Investment Group Partners LLC purchased a new position in Estée Lauder Companies in the 3rd quarter worth approximately $1,229,000. Finally, Worldquant Millennium Advisors LLC grew its position in Estée Lauder Companies by 695.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,123,427 shares of the company's stock valued at $111,994,000 after acquiring an additional 982,183 shares in the last quarter. 55.15% of the stock is currently owned by institutional investors and hedge funds.

Estée Lauder Companies Stock Performance

Shares of Estée Lauder Companies stock traded down $0.98 on Friday, reaching $80.04. 2,842,835 shares of the company were exchanged, compared to its average volume of 3,580,416. The firm has a market cap of $28.73 billion, a price-to-earnings ratio of 142.93, a P/E/G ratio of 5.33 and a beta of 1.05. The Estée Lauder Companies Inc. has a 1-year low of $62.29 and a 1-year high of $159.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.90 and a current ratio of 1.32. The company's 50-day moving average is $78.25 and its two-hundred day moving average is $92.62.

Estée Lauder Companies (NYSE:EL - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period last year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. As a group, research analysts expect that The Estée Lauder Companies Inc. will post 1.46 earnings per share for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies's dividend payout ratio (DPR) is 250.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. UBS Group lowered their target price on Estée Lauder Companies from $115.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. TD Cowen dropped their target price on Estée Lauder Companies from $95.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. HSBC downgraded Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Wednesday, October 16th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $105.00 price objective on shares of Estée Lauder Companies in a report on Thursday, October 31st. Nineteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Estée Lauder Companies currently has an average rating of "Hold" and an average target price of $98.57.

Insider Buying and Selling at Estée Lauder Companies

In related news, Director Paul J. Fribourg acquired 77,500 shares of Estée Lauder Companies stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $64.01 per share, with a total value of $4,960,775.00. Following the completion of the acquisition, the director now directly owns 234,500 shares of the company's stock, valued at $15,010,345. This trade represents a 49.36 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fabrizio Freda sold 10,969 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $67.76, for a total transaction of $743,259.44. Following the transaction, the chief executive officer now directly owns 295,838 shares in the company, valued at approximately $20,045,982.88. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. 12.78% of the stock is owned by company insiders.

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