M&T Bank Corp Sells 8,233 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

M&T Bank Corp lessened its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 9.9% during the fourth quarter, Holdings Channel reports. The firm owned 75,130 shares of the company’s stock after selling 8,233 shares during the period. M&T Bank Corp’s holdings in Estée Lauder Companies were worth $10,988,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Concord Wealth Partners lifted its holdings in Estée Lauder Companies by 9.1% during the fourth quarter. Concord Wealth Partners now owns 1,173 shares of the company’s stock worth $172,000 after acquiring an additional 98 shares during the period. Beese Fulmer Investment Management Inc. lifted its holdings in Estée Lauder Companies by 6.8% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 1,560 shares of the company’s stock worth $228,000 after acquiring an additional 100 shares during the period. Belpointe Asset Management LLC raised its stake in shares of Estée Lauder Companies by 6.4% in the third quarter. Belpointe Asset Management LLC now owns 1,773 shares of the company’s stock valued at $256,000 after buying an additional 106 shares during the period. Insigneo Advisory Services LLC raised its stake in shares of Estée Lauder Companies by 8.1% in the third quarter. Insigneo Advisory Services LLC now owns 1,533 shares of the company’s stock valued at $222,000 after buying an additional 115 shares during the period. Finally, BOK Financial Private Wealth Inc. raised its stake in shares of Estée Lauder Companies by 8.6% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 1,549 shares of the company’s stock valued at $227,000 after buying an additional 123 shares during the period. Institutional investors own 55.15% of the company’s stock.

Analyst Ratings Changes

EL has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Estée Lauder Companies from $160.00 to $159.00 in a research note on Wednesday, May 1st. DA Davidson restated a “buy” rating and issued a $191.00 target price on shares of Estée Lauder Companies in a research note on Monday, April 22nd. Bank of America upgraded Estée Lauder Companies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $160.00 to $170.00 in a research note on Thursday, March 28th. Bernstein Bank boosted their target price on Estée Lauder Companies from $155.00 to $160.00 in a research note on Wednesday, May 1st. Finally, Morgan Stanley cut Estée Lauder Companies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $164.00 to $140.00 in a research report on Friday. Seventeen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Estée Lauder Companies currently has an average rating of “Hold” and a consensus target price of $160.92.

Estée Lauder Companies Trading Down 1.5 %

EL opened at $132.94 on Monday. The Estée Lauder Companies Inc. has a one year low of $102.22 and a one year high of $209.64. The business has a 50 day simple moving average of $145.88 and a two-hundred day simple moving average of $138.15. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.58 and a quick ratio of 1.15. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 3.50 and a beta of 1.07.

Estée Lauder Companies (NYSE:EL) last posted its earnings results on Wednesday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.49. Estée Lauder Companies had a return on equity of 13.08% and a net margin of 4.18%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts predict that The Estée Lauder Companies Inc. will post 2.22 EPS for the current year.

Estée Lauder Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, May 30th. This represents a $2.64 annualized dividend and a yield of 1.99%. Estée Lauder Companies’s dividend payout ratio is 148.32%.

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