CIBC Asset Management Inc Purchases 2,299 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

CIBC Asset Management Inc grew its position in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 38,953 shares of the company’s stock after purchasing an additional 2,299 shares during the quarter. CIBC Asset Management Inc’s holdings in Estée Lauder Companies were worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in EL. Crewe Advisors LLC bought a new stake in Estée Lauder Companies during the 1st quarter valued at $35,000. Rothschild Investment LLC bought a new stake in shares of Estée Lauder Companies during the 2nd quarter valued at $30,000. PARK CIRCLE Co purchased a new stake in Estée Lauder Companies during the 2nd quarter worth about $32,000. Kimelman & Baird LLC purchased a new stake in shares of Estée Lauder Companies in the second quarter worth about $32,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Estée Lauder Companies in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EL shares. Piper Sandler upped their target price on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on Estée Lauder Companies from $98.00 to $75.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. HSBC cut Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Estée Lauder Companies from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut shares of Estée Lauder Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $113.00 to $74.00 in a research report on Friday, November 1st. Nineteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.90.

Estée Lauder Companies Stock Up 1.3 %

EL opened at $64.59 on Tuesday. The Estée Lauder Companies Inc. has a 12 month low of $62.29 and a 12 month high of $159.75. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44. The business’s 50-day moving average price is $84.21 and its 200-day moving average price is $99.84. The company has a market cap of $23.19 billion, a P/E ratio of 115.34, a P/E/G ratio of 3.85 and a beta of 1.05.

Estée Lauder Companies (NYSE:EL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.37 billion. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities analysts expect that The Estée Lauder Companies Inc. will post 1.59 EPS for the current year.

Estée Lauder Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.17%. Estée Lauder Companies’s payout ratio is currently 250.00%.

Insiders Place Their Bets

In related news, CEO Fabrizio Freda sold 10,969 shares of Estée Lauder Companies stock in a transaction on Friday, November 1st. The shares were sold at an average price of $67.76, for a total value of $743,259.44. Following the sale, the chief executive officer now owns 295,838 shares in the company, valued at $20,045,982.88. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charlene Barshefsky sold 3,437 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total transaction of $315,963.41. Following the transaction, the director now directly owns 49,800 shares in the company, valued at approximately $4,578,114. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,296 shares of company stock valued at $1,423,366 in the last quarter. Insiders own 12.78% of the company’s stock.

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.