State Street Corp Has $1.05 Billion Stock Position in The Estée Lauder Companies Inc. (NYSE:EL)

State Street Corp increased its position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,575,926 shares of the company's stock after purchasing an additional 913,470 shares during the quarter. State Street Corp owned 2.95% of Estée Lauder Companies worth $1,054,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in Estée Lauder Companies by 79.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,723,746 shares of the company's stock valued at $570,600,000 after buying an additional 2,533,006 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Estée Lauder Companies by 36.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company's stock worth $402,938,000 after buying an additional 1,078,926 shares during the period. Independent Franchise Partners LLP grew its stake in Estée Lauder Companies by 44.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company's stock valued at $368,788,000 after acquiring an additional 1,066,320 shares during the period. Marshall Wace LLP raised its position in Estée Lauder Companies by 3,065.6% during the second quarter. Marshall Wace LLP now owns 1,983,083 shares of the company's stock worth $211,000,000 after acquiring an additional 1,920,439 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Estée Lauder Companies by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,338,581 shares of the company's stock valued at $133,443,000 after purchasing an additional 35,364 shares during the period. Institutional investors and hedge funds own 55.15% of the company's stock.

Wall Street Analysts Forecast Growth

EL has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Estée Lauder Companies from $100.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Evercore ISI cut 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 report on Tuesday, August 20th. UBS Group decreased their price target on Estée Lauder Companies from $115.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Morgan Stanley reduced their price objective on shares of Estée Lauder Companies from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Finally, HSBC cut shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research report on Wednesday, October 16th. Nineteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.57.

Estée Lauder Companies Stock Performance

Shares of EL stock traded up $1.15 during midday trading on Friday, hitting $79.32. The company had a trading volume of 4,895,199 shares, compared to its average volume of 5,047,895. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 141.64, a PEG ratio of 5.14 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 0.90. The company's 50 day simple moving average is $79.82 and its 200 day simple moving average is $94.22. The Estée Lauder Companies Inc. has a 52-week low of $62.29 and a 52-week high of $159.75.

Estée Lauder Companies (NYSE:EL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $3.37 billion. During the same quarter in the prior year, the business posted $0.11 earnings per share. Estée Lauder Companies's revenue was down 4.5% compared to the same quarter last year. Research analysts anticipate that The Estée Lauder Companies Inc. will post 1.48 earnings per share for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies's payout ratio is currently 250.00%.

Insider Buying and Selling

In related news, CEO Fabrizio Freda sold 10,969 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $67.76, for a total value of $743,259.44. Following the completion of the transaction, the chief executive officer now owns 295,838 shares of the company's stock, valued at approximately $20,045,982.88. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg bought 77,500 shares of Estée Lauder Companies stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $64.01 per share, for a total transaction of $4,960,775.00. Following the acquisition, the director now owns 234,500 shares in the company, valued at $15,010,345. The trade was a 49.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.78% of the stock is currently owned by company 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, and powders, as well as compacts, brushes, and other makeup tools.