The Estée Lauder Companies Inc. (NYSE:EL) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 22.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,310 shares of the company’s stock after selling 19,938 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Estée Lauder Companies were worth $6,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EL. Aptus Capital Advisors LLC raised its holdings in Estée Lauder Companies by 6.3% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,144 shares of the company’s stock valued at $228,000 after acquiring an additional 127 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its stake in Estée Lauder Companies by 2.1% in the second quarter. Canandaigua National Bank & Trust Co. now owns 7,109 shares of the company’s stock valued at $756,000 after purchasing an additional 145 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Estée Lauder Companies by 30.9% during the third quarter. Farther Finance Advisors LLC now owns 639 shares of the company’s stock worth $64,000 after buying an additional 151 shares during the period. Horizon Bancorp Inc. IN boosted its stake in Estée Lauder Companies by 22.3% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 844 shares of the company’s stock worth $90,000 after buying an additional 154 shares during the last quarter. Finally, City Holding Co. grew its holdings in Estée Lauder Companies by 2.1% in the 2nd quarter. City Holding Co. now owns 7,950 shares of the company’s stock valued at $846,000 after buying an additional 165 shares during the period. 55.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EL shares. The Goldman Sachs Group decreased their target price on shares of Estée Lauder Companies from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. TD Cowen decreased their price target on shares of Estée Lauder Companies from $95.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 1st. HSBC downgraded Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Wednesday, October 16th. Royal Bank of Canada reduced their target price on Estée Lauder Companies from $131.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler upped their price target on Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Nineteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Estée Lauder Companies has an average rating of “Hold” and a consensus target price of $98.57.

Estée Lauder Companies Stock Performance

Estée Lauder Companies stock opened at $69.93 on Friday. 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 debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 0.90. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of 124.88, a price-to-earnings-growth ratio of 4.04 and a beta of 1.05. The firm’s fifty day moving average price is $82.78 and its 200 day moving average price is $98.26.

Estée Lauder Companies (NYSE:EL) last announced its earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. On average, research analysts forecast that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies’s payout ratio is currently 471.43%.

Insider Buying and Selling

In other news, Director Paul J. Fribourg bought 77,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $64.01 per share, for a total transaction of $4,960,775.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charlene Barshefsky sold 3,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the sale, the director now owns 49,800 shares of the company’s stock, valued at $4,578,114. This trade represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.78% of the company’s stock.

Estée Lauder Companies 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.