Canvas Wealth Advisors LLC Purchases 19,910 Shares of The Estee Lauder Companies Inc. (NYSE:EL)

Canvas Wealth Advisors LLC grew its position in shares of The Estee Lauder Companies Inc. (NYSE:EL) by 51.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,621 shares of the company’s stock after buying an additional 19,910 shares during the quarter. Estee Lauder Companies makes up about 1.0% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Canvas Wealth Advisors LLC’s holdings in Estee Lauder Companies were worth $3,869,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EL. FMR LLC boosted its position in Estee Lauder Companies by 163.8% in the 4th quarter. FMR LLC now owns 14,382,579 shares of the company’s stock valued at $1,078,406,000 after buying an additional 8,930,011 shares during the last quarter. Capital World Investors bought a new position in Estee Lauder Companies in the fourth quarter valued at about $554,509,000. Norges Bank bought a new position in Estee Lauder Companies in the fourth quarter valued at about $251,304,000. American Century Companies Inc. increased its position in Estee Lauder Companies by 11,026.8% in the fourth quarter. American Century Companies Inc. now owns 3,343,607 shares of the company’s stock worth $250,704,000 after purchasing an additional 3,313,557 shares during the period. Finally, Invesco Ltd. lifted its position in Estee Lauder Companies by 148.9% during the 4th quarter. Invesco Ltd. now owns 5,481,248 shares of the company’s stock valued at $410,984,000 after purchasing an additional 3,278,632 shares during the period. Institutional investors and hedge funds own 55.15% of the company’s stock.

Estee Lauder Companies Stock Up 2.0%

Estee Lauder Companies stock opened at $79.15 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.41 and a quick ratio of 1.02. The company’s 50-day moving average is $65.76 and its 200-day moving average is $68.91. The firm has a market capitalization of $28.47 billion, a PE ratio of -32.70, a P/E/G ratio of 8.01 and a beta of 1.12. The Estee Lauder Companies Inc. has a fifty-two week low of $48.37 and a fifty-two week high of $113.48.

Estee Lauder Companies (NYSE:EL) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.36. Estee Lauder Companies had a positive return on equity of 15.60% and a negative net margin of 5.89%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. Sell-side analysts anticipate that The Estee Lauder Companies Inc. will post 1.36 earnings per share for the current year.

Estee Lauder Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.35 per share. The ex-dividend date was Friday, May 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. Estee Lauder Companies’s dividend payout ratio (DPR) is -57.85%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EL. Canaccord Genuity Group lowered their price target on shares of Estee Lauder Companies from $70.00 to $62.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Estee Lauder Companies from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target (down previously from $92.00) on shares of Estee Lauder Companies in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on Estee Lauder Companies from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered Estee Lauder Companies from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.50.

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