Resona Asset Management Co. Ltd. Acquires New Holdings in The Estée Lauder Companies Inc. (NYSE:EL)

Resona Asset Management Co. Ltd. bought a new position in The Estée Lauder Companies Inc. (NYSE:EL) in the 4th quarter, HoldingsChannel reports. The fund bought 68,223 shares of the company’s stock, valued at approximately $5,112,000.

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

Estée Lauder Companies Price Performance

Shares of NYSE:EL opened at $49.72 on Wednesday. The company’s fifty day moving average is $68.37 and its two-hundred day moving average is $75.59. The company has a market cap of $17.85 billion, a P/E ratio of -25.49, a price-to-earnings-growth ratio of 6.09 and a beta of 1.10. The Estée Lauder Companies Inc. has a 12-month low of $48.82 and a 12-month high of $149.91. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75.

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

Estée Lauder Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, February 28th. Estée Lauder Companies’s dividend payout ratio is currently -71.79%.

Analyst Upgrades and Downgrades

EL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Estée Lauder Companies from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $76.00 price objective on shares of Estée Lauder Companies in a report on Tuesday, February 4th. Piper Sandler boosted their target price on Estée Lauder Companies from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley decreased their price target on Estée Lauder Companies from $85.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, DA Davidson reiterated a “buy” rating and set a $81.00 price target on shares of Estée Lauder Companies in a research report on Tuesday, February 25th. Twenty investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.00.

Insider Activity at Estée Lauder Companies

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

Estée Lauder Companies Company 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, and powders, as well as compacts, brushes, and other makeup tools.