Select Equity Group L.P. reduced its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 22.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,414 shares of the company’s stock after selling 27,464 shares during the period. Select Equity Group L.P.’s holdings in The Estée Lauder Companies were worth $27,169,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of EL. Norges Bank bought a new stake in shares of The Estée Lauder Companies during the fourth quarter worth about $616,628,000. Jennison Associates LLC grew its position in The Estée Lauder Companies by 17.5% in the 1st quarter. Jennison Associates LLC now owns 7,253,638 shares of the company’s stock worth $2,109,721,000 after purchasing an additional 1,082,078 shares in the last quarter. Third Point LLC grew its position in The Estée Lauder Companies by 382.5% in the 1st quarter. Third Point LLC now owns 965,000 shares of the company’s stock worth $280,670,000 after purchasing an additional 765,000 shares in the last quarter. Lord Abbett & CO. LLC grew its position in The Estée Lauder Companies by 326.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 898,315 shares of the company’s stock worth $261,275,000 after purchasing an additional 687,818 shares in the last quarter. Finally, Amundi Asset Management US Inc. grew its position in The Estée Lauder Companies by 117.7% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,153,072 shares of the company’s stock worth $335,369,000 after purchasing an additional 623,469 shares in the last quarter. 55.58% of the stock is owned by institutional investors.
A number of brokerages have issued reports on EL. Argus upped their price objective on shares of The Estée Lauder Companies from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of The Estée Lauder Companies in a research note on Wednesday, June 9th. Raymond James upgraded shares of The Estée Lauder Companies from a “market perform” rating to a “strong-buy” rating and set a $355.00 target price on the stock in a research note on Tuesday, July 13th. Wells Fargo & Company upgraded shares of The Estée Lauder Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $290.00 to $340.00 in a research note on Wednesday, March 24th. Finally, Zacks Investment Research cut shares of The Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $329.00 price target on the stock. in a research note on Monday, April 26th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $316.04.
The Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Sunday, May 2nd. The company reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.30. The Estée Lauder Companies had a net margin of 9.45% and a return on equity of 39.04%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that The Estée Lauder Companies Inc. will post 6.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Friday, May 28th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, May 27th. The Estée Lauder Companies’s dividend payout ratio is currently 51.46%.
In other The Estée Lauder Companies news, Director Charlene Barshefsky sold 910 shares of the stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $293.54, for a total transaction of $267,121.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tracey Thomas Travis sold 53,531 shares of the stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $325.01, for a total transaction of $17,398,110.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,407 shares of company stock worth $110,030,350. 13.95% of the stock is owned by insiders.
About The Estée Lauder Companies
The Estée Lauder Companies, Inc engages in the manufacturing of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MAC, Bobbi Brown, La Mer, Jo Malone London, Aveda, and Too Faced. Its channels primarily consist of department stores, specialty multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas.
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