The Estée Lauder Companies Inc. (NYSE:EL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,551 shares of the company’s stock after selling 7,377 shares during the quarter. Corebridge Financial Inc.’s holdings in Estée Lauder Companies were worth $4,690,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EL. Ameliora Wealth Management Ltd. acquired a new position in shares of Estée Lauder Companies during the 4th quarter worth approximately $29,000. Deseret Mutual Benefit Administrators boosted its stake in Estée Lauder Companies by 68.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 388 shares of the company’s stock worth $29,000 after buying an additional 158 shares during the last quarter. Eagle Bay Advisors LLC grew its holdings in Estée Lauder Companies by 297.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 401 shares of the company’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Estée Lauder Companies in the 4th quarter worth $30,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Estée Lauder Companies by 42.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 476 shares of the company’s stock worth $36,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 55.15% of the company’s stock.

Insider Buying and Selling

In other Estée Lauder Companies news, CFO Akhil Shrivastava purchased 700 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $65.79 per share, with a total value of $46,053.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,381 shares of the company’s stock, valued at $156,645.99. This trade represents a 41.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg acquired 43,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $66.35 per share, for a total transaction of $2,853,050.00. Following the acquisition, the director now owns 430,800 shares of the company’s stock, valued at $28,583,580. This represents a 11.09 % increase in their position. The disclosure for this purchase can be found here. 12.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EL shares. Piper Sandler upped their price objective on shares of Estée Lauder Companies from $91.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. UBS Group raised their price target on shares of Estée Lauder Companies from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $76.00 price target on shares of Estée Lauder Companies in a research report on Tuesday, February 4th. Wells Fargo & Company increased their price objective on Estée Lauder Companies from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Barclays reduced their target price on Estée Lauder Companies from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Twenty research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.00.

Estée Lauder Companies Stock Performance

NYSE:EL opened at $65.42 on Monday. The Estée Lauder Companies Inc. has a 52 week low of $62.29 and a 52 week high of $155.73. The company has a fifty day simple moving average of $72.02 and a two-hundred day simple moving average of $77.09. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75. The company has a market cap of $23.48 billion, a price-to-earnings ratio of -33.55, a price-to-earnings-growth ratio of 6.09 and a beta of 1.08.

Estée Lauder Companies (NYSE:EL) last released its earnings results on Tuesday, February 4th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.32 by $0.30. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Estée Lauder Companies had a positive return on equity of 16.82% and a negative net margin of 4.61%. Estée Lauder Companies’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. As a group, equities analysts anticipate that The Estée Lauder Companies Inc. will post 1.36 earnings per share for the current fiscal year.

Estée Lauder Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 2.14%. Estée Lauder Companies’s dividend payout ratio (DPR) is -71.79%.

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