Banque Pictet & Cie SA, according to its latest filing with the Securities and Exchange Commission (SEC), has increased its stake in The Estée Lauder Companies Inc. (EL) by an impressive 549.6% during the first quarter. The firm now owns 852,709 shares of Estée Lauder Companies, representing approximately 2.0% of Banque Pictet & Cie SA’s portfolio and making it their 14th largest holding. The total value of their stake amounts to $210,159,000 as of the most recent filing.
Institutional investors and hedge funds show interest in EL Stock
Other institutional investors and hedge funds have also made notable moves with regards to their holdings in Estée Lauder Companies. Heritage Wealth Management LLC doubled its stake in the company during the fourth quarter, while Thompson Siegel & Walmsley LLC acquired a new stake in Estée Lauder Companies. North Star Investment Management Corp. and Newbridge Financial Services Group Inc. also increased their holdings, demonstrating confidence in the company’s prospects. Additionally, Mizuho Securities Co. Ltd. significantly raised its holdings in the company during the same period.
Insider trading activity revealed
In recent Estée Lauder Companies news, insider Hudis Jane Hertzmark sold 9,869 shares of the company’s stock in a transaction valued at approximately $1,973,306.55. Following this transaction, the insider now holds 11,406 shares in the company, with a total value of $2,280,629.70. This sale was disclosed in a filing with the SEC.
Analysts adjust ratings and price targets
Several analysts have recently released reports on Estée Lauder Companies. Raymond James lowered the company’s price target, while Argus downgraded the stock from “buy” to “hold.” However, Berenberg Bank upgraded Estée Lauder Companies to a “buy” rating and set a price target of $243.00. Barclays and UBS Group both decreased their price targets as well. Overall, analysts’ opinions on the stock vary, with one analyst rating it as “sell,” six as “hold,” and eighteen as “buy.” The average rating is classified as “Strong Buy,” with a target price of $268.95.
EL Stock experiences slight decrease in stock price
Estée Lauder Companies’ stock, traded on the NYE under the ticker symbol EL, decreased by 0.8% on Monday, reaching a price of $192.15. The trading volume for the day stood at 295,276 shares, compared to the average volume of 1,827,503 shares. The company has a market capitalization of $68.68 billion and a beta of 1.02. The stock’s 52-week range is between $175.05 and $284.45.
EL Stock recent earnings and dividend announcement
Estée Lauder Companies reported its quarterly earnings on May 3rd, revealing earnings per share (EPS) of $0.47, slightly below the consensus estimate of $0.51. The company’s net margin was 6.88%, and it recorded a return on equity of 23.99%. The firm generated revenue of $3.75 billion for the quarter, exceeding analysts’ expectations of $3.70 billion. However, the quarterly revenue declined by 11.7% compared to the same period last year. Sell-side analysts predict that Estée Lauder Companies will post EPS of 3.35 for the current fiscal year.
Furthermore, the company recently announced a quarterly dividend, paying $0.66 per share to investors of record on May 31st. The dividend, with an annualized rate of $2.64, yielded 1.37%.
