The Estée Lauder Companies Inc. (NYSE:EL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 92.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,940 shares of the company's stock after selling 135,708 shares during the period. Allspring Global Investments Holdings LLC's holdings in Estée Lauder Companies were worth $1,164,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Estée Lauder Companies by 6.4% during the first quarter. Vanguard Group Inc. now owns 20,686,550 shares of the company's stock valued at $3,188,832,000 after purchasing an additional 1,250,555 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Estée Lauder Companies by 13.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,151,580 shares of the company's stock valued at $607,169,000 after purchasing an additional 496,308 shares during the period. Norges Bank purchased a new position in shares of Estée Lauder Companies in the fourth quarter valued at about $518,975,000. Clearbridge Investments LLC lifted its position in shares of Estée Lauder Companies by 4.6% in the first quarter. Clearbridge Investments LLC now owns 3,163,232 shares of the company's stock valued at $487,612,000 after acquiring an additional 140,416 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Estée Lauder Companies by 18.2% in the first quarter. Van ECK Associates Corp now owns 2,644,728 shares of the company's stock valued at $407,685,000 after acquiring an additional 406,753 shares in the last quarter. Institutional investors own 55.15% of the company's stock.

Estée Lauder Companies Stock Performance

EL stock traded down $2.29 during trading on Thursday, hitting $90.12. 2,963,160 shares of the company traded hands, compared to its average volume of 3,083,188. The stock's 50-day simple moving average is $97.50 and its 200 day simple moving average is $123.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market cap of $32.31 billion, a PE ratio of 50.60, a P/E/G 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 $160.06.

Estée Lauder Companies (NYSE:EL - Get Free Report) last announced 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%. Estée Lauder Companies's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. On average, equities analysts expect that The Estée Lauder Companies Inc. will post 2.99 earnings per share for the current fiscal year.

Estée Lauder Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, August 30th. Estée Lauder Companies's dividend payout ratio (DPR) is presently 148.31%.

Insider Activity

In other news, Director Lynn Forester sold 3,890 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at $1,423,714.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Charlene Barshefsky sold 3,437 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total transaction of $315,963.41. Following the completion of the sale, the director now directly owns 49,800 shares in the company, valued at $4,578,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Forester sold 3,890 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total value of $364,142.90. Following the sale, the director now owns 15,209 shares of the company's stock, valued at $1,423,714.49. The disclosure for this sale can be found here. Company insiders own 12.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EL shares. Canaccord Genuity Group restated a "hold" rating and set a $100.00 price target on shares of Estée Lauder Companies in a report on Tuesday, August 20th. Telsey Advisory Group reiterated a "market perform" rating and set a $115.00 target price on shares of Estée Lauder Companies in a research report on Monday, August 19th. Piper Sandler upgraded Estée Lauder Companies from a "neutral" rating to an "overweight" rating and increased their target price for the company from $95.00 to $114.00 in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on 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, Raymond James downgraded Estée Lauder Companies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $122.77.

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.