Concentric Capital Strategies LP purchased a new position in The Estée Lauder Companies Inc. (NYSE:EL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,760 shares of the company's stock, valued at approximately $4,163,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its stake in shares of Estée Lauder Companies by 24.6% during the 1st quarter. Atria Investments Inc now owns 11,961 shares of the company's stock valued at $1,844,000 after purchasing an additional 2,361 shares during the period. Cetera Investment Advisers boosted its position in Estée Lauder Companies by 494.2% during the 1st quarter. Cetera Investment Advisers now owns 24,949 shares of the company's stock valued at $3,846,000 after buying an additional 20,750 shares during the period. Cetera Advisors LLC raised its position in Estée Lauder Companies by 48.4% during the 1st quarter. Cetera Advisors LLC now owns 3,422 shares of the company's stock valued at $527,000 after purchasing an additional 1,116 shares during the last quarter. GAMMA Investing LLC lifted its stake in Estée Lauder Companies by 31.8% in the second quarter. GAMMA Investing LLC now owns 2,161 shares of the company's stock worth $230,000 after acquiring an additional 522 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in shares of Estée Lauder Companies by 114.9% during the 2nd quarter. Park Avenue Securities LLC now owns 5,896 shares of the company's stock valued at $627,000 after purchasing an additional 3,153 shares in the last quarter. 55.15% of the stock is owned by institutional investors and hedge funds.
Estée Lauder Companies Trading Up 1.8 %
Shares of EL stock traded up $1.35 on Tuesday, hitting $77.33. 3,725,881 shares of the company's stock traded hands, compared to its average volume of 3,541,482. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.90 and a current ratio of 1.32. The stock has a market capitalization of $27.76 billion, a price-to-earnings ratio of 135.77, a P/E/G ratio of 4.67 and a beta of 1.05. The Estée Lauder Companies Inc. has a one year low of $62.29 and a one year high of $159.75. The company's fifty day simple moving average is $81.43 and its 200 day simple moving average is $95.92.
Estée Lauder Companies (NYSE:EL - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.37 billion. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. Estée Lauder Companies's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. Equities analysts forecast that The Estée Lauder Companies Inc. will post 1.48 EPS for the current year.
Estée Lauder Companies Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.35 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 1.81%. Estée Lauder Companies's dividend payout ratio is presently 250.00%.
Insider Buying and Selling at Estée Lauder Companies
In related news, Director Paul J. Fribourg purchased 77,500 shares of the company's stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $64.01 per share, for a total transaction of $4,960,775.00. Following the completion of the purchase, the director now directly owns 234,500 shares of the company's stock, valued at approximately $15,010,345. This trade represents a 49.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fabrizio Freda sold 10,969 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $67.76, for a total value of $743,259.44. Following the completion of the sale, the chief executive officer now directly owns 295,838 shares of the company's stock, valued at $20,045,982.88. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.78% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Stifel Nicolaus cut Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of Estée Lauder Companies from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $113.00 to $74.00 in a research note on Friday, November 1st. Canaccord Genuity Group lowered their price target on Estée Lauder Companies from $100.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Evercore ISI decreased their price target on shares of Estée Lauder Companies from $180.00 to $130.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Estée Lauder Companies from $98.00 to $75.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Nineteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $98.57.
Check Out Our Latest Report on EL
Estée Lauder Companies Company Profile
(
Free Report)
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.
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