Estee Lauder (EL)

• Market cap: $34.1B
• Sector: Materials
• Industry: Perfumes, Cosmetics & Other Toilet Preparations

About: Estee Lauder is a leader in the global prestige beauty market, participating across skin care (51% of fiscal 2024 sales), makeup (29%), fragrance (16%), and hair care (4%) categories, with top-selling brands such as Estee Lauder, Clinique, M.A.C, La Mer, Jo Malone London, Aveda, Bobbi Brown, and Origins. The firm operates in more than 150 countries, generating 30% of revenue from the Americas, 39% from Europe, the Middle East and Africa (including travel retail), and 31% from Asia-Pacific. Estee Lauder sells its products through department stores, travel retail, specialty multibrand beauty stores, brand-dedicated freestanding stores, e-commerce, salons/spas, and perfumeries.

Employees: 62,000

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

0.79% less ownership

Funds ownership: 88.21% [Q1] → 87.43% (-0.79%) [Q2]

6% less funds holding

Funds holding: 1,031 [Q1] → 967 (-64) [Q2]

21% less repeat investments, than reductions

Existing positions increased: 324 | Existing positions reduced: 412

29% less funds holding in top 10

Funds holding in top 10: 14 [Q1] → 10 (-4) [Q2]

30% less call options, than puts

Call options by funds: $696M | Put options by funds: $994M

32% less capital invested

Capital invested by funds: $31.7B [Q1] → $21.7B (-$10B) [Q2]

40% less first-time investments, than exits

New positions opened: 96 | Existing positions closed: 160

Research analyst outlook

32 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $95 0% upside
• Avg. target: $120 26% upside
• High target: $191 101% upside

32 analyst ratings

• positive: 16 50%
• neutral: 16 50%
• negative: 0 0%

Piper Sandler Korinne Wolfmeyer 22% 1-year accuracy 9 / 41 met price target	29% upside $122	Overweight Maintained	30 Sept 2024
DA Davidson Linda Bolton Weiser 40% 1-year accuracy 34 / 85 met price target	37% upside $130	Buy Maintained	24 Sept 2024
B. Riley Securities Anna Glaessgen 22% 1-year accuracy 2 / 9 met price target	0% upside $95	Neutral Initiated	10 Sept 2024
DA Davidson Linda Bolton Weiser 40% 1-year accuracy 34 / 85 met price target	37% upside $130	Buy Maintained	3 Sept 2024
DA Davidson Linda Bolton Weiser 40% 1-year accuracy 34 / 85 met price target	37% upside $130	Buy Maintained	28 Aug 2024