The Estée Lauder Companies Inc. (NYSE:EL) Position Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 7.3% in the second quarter, Holdings Channel.com reports. The firm owned 26,500 shares of the company’s stock after acquiring an additional 1,801 shares during the quarter. Mackenzie Financial Corp’s holdings in Estée Lauder Companies were worth $2,820,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP lifted its position in Estée Lauder Companies by 3,065.6% in the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock worth $211,000,000 after buying an additional 1,920,439 shares in the last quarter. Jennison Associates LLC purchased a new position in Estée Lauder Companies in the first quarter valued at about $291,171,000. Vanguard Group Inc. increased its position in Estée Lauder Companies by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 20,686,550 shares of the company’s stock worth $3,188,832,000 after purchasing an additional 1,250,555 shares during the last quarter. Independent Franchise Partners LLP raised its stake in shares of Estée Lauder Companies by 44.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock worth $368,788,000 after purchasing an additional 1,066,320 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Estée Lauder Companies during the 1st quarter valued at about $82,664,000. 55.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Estée Lauder Companies

In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of Estée Lauder Companies 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 sale, the director now owns 49,800 shares in the company, valued at $4,578,114. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lynn Forester sold 3,890 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total value of $364,142.90. Following the completion of the transaction, the director now owns 15,209 shares of the company’s stock, valued at $1,423,714.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charlene Barshefsky sold 3,437 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total transaction of $315,963.41. Following the transaction, the director now owns 49,800 shares of the company’s stock, valued at approximately $4,578,114. The disclosure for this sale can be found here. 12.77% of the stock is currently owned by corporate insiders.

Estée Lauder Companies Stock Performance

NYSE:EL opened at $97.12 on Thursday. The firm’s 50-day moving average is $92.23 and its 200-day moving average is $114.84. The company has a market cap of $34.82 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 1.46 and a beta of 1.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.01 and a current ratio of 1.39. The Estée Lauder Companies Inc. has a 52-week low of $82.39 and a 52-week high of $159.75.

Estée Lauder Companies (NYSE:EL) last released its earnings results on Monday, August 19th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.39. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. Estée Lauder Companies had a return on equity of 16.91% and a net margin of 2.50%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Equities research analysts anticipate that The Estée Lauder Companies Inc. will post 2.97 earnings per share for the current year.

Estée Lauder Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.72%. Estée Lauder Companies’s payout ratio is 148.31%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EL. UBS Group dropped their price objective on Estée Lauder Companies from $115.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Piper Sandler raised their price target on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $115.00 price objective on shares of Estée Lauder Companies in a research note on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and set a $131.00 target price on shares of Estée Lauder Companies in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus reduced their price target on Estée Lauder Companies from $165.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Fourteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Estée Lauder Companies presently has a consensus rating of “Hold” and a consensus target price of $120.64.

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, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.