HighTower Advisors LLC decreased its position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,209 shares of the company's stock after selling 9,387 shares during the quarter. HighTower Advisors LLC's holdings in Estée Lauder Companies were worth $2,766,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Estée Lauder Companies by 79.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,723,746 shares of the company's stock worth $570,600,000 after purchasing an additional 2,533,006 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Estée Lauder Companies by 36.4% in the third quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company's stock worth $402,938,000 after purchasing an additional 1,078,926 shares during the period. Independent Franchise Partners LLP grew its position in Estée Lauder Companies by 44.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company's stock valued at $368,788,000 after buying an additional 1,066,320 shares in the last quarter. Marshall Wace LLP increased its stake in Estée Lauder Companies by 3,065.6% during the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company's stock valued at $211,000,000 after buying an additional 1,920,439 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Estée Lauder Companies by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,338,581 shares of the company's stock worth $133,443,000 after buying an additional 35,364 shares in the last quarter. Institutional investors and hedge funds own 55.15% of the company's stock.
Insiders Place Their Bets
In other Estée Lauder Companies news, Director Paul J. Fribourg purchased 75,500 shares of the company's stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $64.93 per share, for a total transaction of $4,902,215.00. Following the completion of the transaction, the director now owns 310,000 shares in the company, valued at approximately $20,128,300. This represents a 32.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Fabrizio Freda sold 10,969 shares of Estée Lauder Companies stock in a transaction 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 transaction, the chief executive officer now directly owns 295,838 shares of the company's stock, valued at $20,045,982.88. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.78% of the company's stock.
Estée Lauder Companies Trading Down 1.2 %
EL traded down $0.98 during midday trading on Friday, reaching $80.04. 2,841,817 shares of the company were exchanged, compared to its average volume of 3,580,416. 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 $28.73 billion, a P/E ratio of 144.66, a PEG ratio of 5.33 and a beta of 1.05. The stock's 50-day simple moving average is $78.56 and its 200 day simple moving average is $93.17. The Estée Lauder Companies Inc. has a one year low of $62.29 and a one year high of $159.75.
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 the consensus estimate of $0.09 by $0.05. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, analysts forecast that The Estée Lauder Companies Inc. will post 1.46 earnings per share for the current fiscal year.
Estée Lauder Companies Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, November 29th. Estée Lauder Companies's payout ratio is presently 250.00%.
Analyst Ratings Changes
Several research firms recently commented on EL. Royal Bank of Canada cut their target price on shares of Estée Lauder Companies from $131.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. StockNews.com cut Estée Lauder Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Piper Sandler lifted their target price on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. The Goldman Sachs Group lowered their price objective on shares of Estée Lauder Companies from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Finally, DA Davidson restated a "buy" rating and issued a $81.00 target price on shares of Estée Lauder Companies in a report on Wednesday, November 20th. Nineteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $98.57.
Check Out Our Latest Stock Analysis on Estée Lauder Companies
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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