Truist Financial Corp Decreases Position in The Estée Lauder Companies Inc. (NYSE:EL)

Truist Financial Corp trimmed its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 16.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,175 shares of the company’s stock after selling 6,923 shares during the period. Truist Financial Corp’s holdings in Estée Lauder Companies were worth $3,743,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EL. Marshall Wace LLP boosted its holdings in Estée Lauder Companies by 3,065.6% during the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock valued at $211,000,000 after acquiring an additional 1,920,439 shares during the period. Jennison Associates LLC purchased a new stake in shares of Estée Lauder Companies in the 1st quarter worth approximately $291,171,000. Vanguard Group Inc. boosted its stake in shares of Estée Lauder Companies by 6.4% during the first quarter. Vanguard Group Inc. now owns 20,686,550 shares of the company’s stock valued at $3,188,832,000 after purchasing an additional 1,250,555 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Estée Lauder Companies by 44.4% during the second quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock valued at $368,788,000 after buying an additional 1,066,320 shares during the period. Finally, Swedbank AB bought a new position in Estée Lauder Companies in the first quarter worth approximately $82,664,000. 55.15% of the stock is owned by institutional investors.

Estée Lauder Companies Stock Down 2.2 %

Estée Lauder Companies stock opened at $93.91 on Wednesday. The business’s 50-day moving average price is $91.95 and its 200 day moving average price is $113.54. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 52.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. 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 posted its earnings results on Monday, August 19th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.39. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. Estée Lauder Companies had a net margin of 2.50% and a return on equity of 16.91%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. As a group, sell-side analysts anticipate that The Estée Lauder Companies Inc. will post 2.97 earnings per share for the current year.

Estée Lauder Companies Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.81%. Estée Lauder Companies’s dividend payout ratio is presently 148.31%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EL. The Goldman Sachs Group dropped their target price on Estée Lauder Companies from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Stifel Nicolaus lowered their price target on shares of Estée Lauder Companies from $165.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Estée Lauder Companies from $108.00 to $105.00 and set a “hold” rating for the company in a research note on Tuesday, August 20th. Evercore ISI cut their price target on shares of Estée Lauder Companies from $180.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, UBS Group decreased their price objective on Estée Lauder Companies from $115.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $120.64.

Insider Buying and Selling

In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total value of $315,963.41. Following the sale, the director now directly owns 49,800 shares of the company’s stock, valued at approximately $4,578,114. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of the 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 of the company’s stock, valued at $4,578,114. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Forester sold 3,890 shares of Estée Lauder Companies stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the completion of the sale, the director now owns 15,209 shares in the company, valued at approximately $1,423,714.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.77% of the stock is currently owned by insiders.

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