Maverick Capital Ltd. Has $2.05 Million Position in The Estée Lauder Companies Inc. (NYSE:EL)

Maverick Capital Ltd. boosted its holdings in The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 651.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,525 shares of the company's stock after buying an additional 17,794 shares during the period. Maverick Capital Ltd.'s holdings in Estée Lauder Companies were worth $2,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EL. Edgestream Partners L.P. grew its stake in shares of Estée Lauder Companies by 128.9% during the 3rd quarter. Edgestream Partners L.P. now owns 15,292 shares of the company's stock valued at $1,524,000 after buying an additional 8,610 shares during the period. Verition Fund Management LLC grew its position in Estée Lauder Companies by 140.3% during the third quarter. Verition Fund Management LLC now owns 33,491 shares of the company's stock valued at $3,339,000 after acquiring an additional 19,552 shares during the period. William Allan Corp grew its position in Estée Lauder Companies by 3.1% during the third quarter. William Allan Corp now owns 6,167 shares of the company's stock valued at $615,000 after acquiring an additional 184 shares during the period. Infusive Asset Management Inc. acquired a new stake in Estée Lauder Companies during the third quarter worth about $3,691,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Estée Lauder Companies in the 3rd quarter worth about $90,000. Hedge funds and other institutional investors own 55.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EL shares. Evercore ISI reduced their target price on shares of Estée Lauder Companies from $180.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. Stifel Nicolaus cut Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a research note on Thursday, October 31st. Piper Sandler increased their target price on Estée Lauder Companies from $114.00 to $122.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Canaccord Genuity Group reduced their price target on Estée Lauder Companies from $100.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. Finally, Citigroup downgraded shares of Estée Lauder Companies from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $80.00 in a research 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. According to data from MarketBeat.com, Estée Lauder Companies has a consensus rating of "Hold" and an average price target of $98.57.

Estée Lauder Companies Stock Performance

Shares of NYSE:EL traded down $1.48 during trading hours on Friday, hitting $72.12. The stock had a trading volume of 3,620,919 shares, compared to its average volume of 5,574,799. The stock's fifty day simple moving average is $81.43 and its 200 day simple moving average is $95.92. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 128.79, a PEG ratio of 4.67 and a beta of 1.05. 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 Estée Lauder Companies Inc. has a 1-year low of $62.29 and a 1-year high of $159.75.

Estée Lauder Companies (NYSE:EL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The business had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.37 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The company's revenue was down 4.5% on a year-over-year basis. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies's payout ratio is currently 471.43%.

Insiders Place Their Bets

In related news, Director Paul J. Fribourg purchased 77,500 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $64.01 per share, with a total value of $4,960,775.00. Following the purchase, the director now 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 document filed with the SEC, which is available at the SEC website. Also, CEO Fabrizio Freda sold 10,969 shares of the company'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 sale, the chief executive officer now directly owns 295,838 shares of the company's stock, valued at $20,045,982.88. This represents a 3.58 % decrease in their ownership of the stock. 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.