Goldman Sachs Group Inc. Sells 358,408 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Goldman Sachs Group Inc. lessened its position in shares of The Estée Lauder Companies Inc. (NYSE:ELGet Rating) by 24.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,085,942 shares of the company’s stock after selling 358,408 shares during the period. Goldman Sachs Group Inc.’s holdings in Estée Lauder Companies were worth $402,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in Estée Lauder Companies by 2.8% during the fourth quarter. State Street Corp now owns 9,761,898 shares of the company’s stock worth $3,613,855,000 after buying an additional 261,654 shares during the last quarter. Fundsmith LLP increased its stake in Estée Lauder Companies by 4.9% in the fourth quarter. Fundsmith LLP now owns 7,165,161 shares of the company’s stock valued at $2,652,543,000 after purchasing an additional 333,409 shares in the last quarter. Morgan Stanley increased its stake in Estée Lauder Companies by 9.8% in the third quarter. Morgan Stanley now owns 4,147,759 shares of the company’s stock valued at $1,244,038,000 after purchasing an additional 369,154 shares in the last quarter. Royal Bank of Canada increased its stake in Estée Lauder Companies by 6.2% in the third quarter. Royal Bank of Canada now owns 3,865,354 shares of the company’s stock valued at $1,159,335,000 after purchasing an additional 226,262 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Estée Lauder Companies by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,651,707 shares of the company’s stock valued at $1,347,667,000 after purchasing an additional 130,587 shares in the last quarter. 58.85% of the stock is owned by institutional investors and hedge funds.

In other Estée Lauder Companies news, EVP Carl P. Haney sold 1,152 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $307.94, for a total value of $354,746.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charlene Barshefsky sold 1,158 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $238.34, for a total transaction of $275,997.72. Following the completion of the sale, the director now directly owns 46,828 shares in the company, valued at approximately $11,160,985.52. The disclosure for this sale can be found here. 13.95% of the stock is owned by insiders.

Estée Lauder Companies stock traded up $9.39 during midday trading on Friday, hitting $240.39. 1,792,895 shares of the stock were exchanged, compared to its average volume of 1,785,572. The Estée Lauder Companies Inc. has a 52-week low of $225.39 and a 52-week high of $374.20. The stock has a market capitalization of $86.22 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04. The business’s 50-day moving average price is $264.23 and its 200-day moving average price is $307.88. The company has a quick ratio of 1.23, a current ratio of 1.75 and a debt-to-equity ratio of 0.84.

Estée Lauder Companies (NYSE:ELGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Estée Lauder Companies had a net margin of 18.53% and a return on equity of 45.06%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. On average, sell-side analysts predict that The Estée Lauder Companies Inc. will post 7.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, May 27th. Estée Lauder Companies’s payout ratio is 26.26%.

Several equities research analysts have weighed in on EL shares. Oppenheimer decreased their price target on shares of Estée Lauder Companies from $350.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. Piper Sandler decreased their price target on shares of Estée Lauder Companies from $380.00 to $350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 19th. StockNews.com began coverage on shares of Estée Lauder Companies in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their target price on shares of Estée Lauder Companies from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, February 4th. Finally, Stifel Nicolaus decreased their target price on shares of Estée Lauder Companies from $355.00 to $335.00 and set a “buy” rating for the company in a research report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $335.95.

Estée Lauder Companies Profile (Get Rating)

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, 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.

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Institutional Ownership by Quarter for Estée Lauder Companies (NYSE:EL)

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