Bank of New York Mellon Corp Sells 16,192 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Bank of New York Mellon Corp decreased its stake in The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,668,793 shares of the company's stock after selling 16,192 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Estée Lauder Companies worth $177,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Estée Lauder Companies during the first quarter valued at $26,000. Hexagon Capital Partners LLC raised its stake in shares of Estée Lauder Companies by 103.1% during the first quarter. Hexagon Capital Partners LLC now owns 195 shares of the company's stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Estée Lauder Companies during the first quarter valued at $35,000. ICA Group Wealth Management LLC bought a new position in shares of Estée Lauder Companies during the fourth quarter valued at $41,000. Finally, Larson Financial Group LLC raised its stake in shares of Estée Lauder Companies by 3,262.5% during the first quarter. Larson Financial Group LLC now owns 269 shares of the company's stock valued at $41,000 after acquiring an additional 261 shares during the last quarter. Institutional investors own 55.15% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EL. Bernstein Bank raised their price target on shares of Estée Lauder Companies from $155.00 to $160.00 in a research note on Wednesday, May 1st. Evercore ISI dropped their price target on shares of Estée Lauder Companies from $180.00 to $130.00 and set an "outperform" rating for the company in a research note on Tuesday, August 20th. UBS Group decreased their price objective on shares of Estée Lauder Companies from $115.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Estée Lauder Companies from $108.00 to $105.00 and set a "hold" rating for the company in a research report on Tuesday, August 20th. Finally, Piper Sandler upgraded shares of Estée Lauder Companies from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $95.00 to $114.00 in a research report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $122.77.

Estée Lauder Companies Stock Up 0.9 %

Shares of NYSE EL traded up $0.80 during mid-day trading on Monday, reaching $94.50. 3,016,328 shares of the company's stock traded hands, compared to its average volume of 3,073,947. The stock has a market cap of $33.88 billion, a P/E ratio of 53.09, a PEG ratio of 1.79 and a beta of 0.99. The business has a 50-day simple moving average of $100.43 and a 200 day simple moving average of $125.51. The Estée Lauder Companies Inc. has a 1-year low of $86.05 and a 1-year high of $165.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.58 and a quick ratio of 1.15.

Estée Lauder Companies (NYSE:EL - Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.39. The firm had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.80 billion. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, analysts expect that The Estée Lauder Companies Inc. will post 2.21 EPS for the current fiscal year.

Estée Lauder Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, August 30th. Estée Lauder Companies's payout ratio is currently 148.31%.

Insider Activity at Estée Lauder Companies

In related news, Director Lynn Forester sold 3,890 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the transaction, the director now directly owns 15,209 shares of the company's stock, valued at $1,423,714.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Estée Lauder Companies news, EVP Jane Lauder sold 14,976 shares of Estée Lauder Companies stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $121.26, for a total value of $1,815,989.76. Following the sale, the executive vice president now owns 57,389 shares of the company's stock, valued at $6,958,990.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Forester sold 3,890 shares of Estée Lauder Companies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $93.61, for a total transaction of $364,142.90. Following the completion of the sale, the director now directly owns 15,209 shares in the company, valued at approximately $1,423,714.49. The disclosure for this sale can be found here. 12.77% of the stock is owned by insiders.

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.