Jupiter Asset Management Ltd. reduced its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,724 shares of the company's stock after selling 11,174 shares during the period. Jupiter Asset Management Ltd.'s holdings in Estée Lauder Companies were worth $7,852,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of Estée Lauder Companies by 415.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,942 shares of the company's stock valued at $146,000 after buying an additional 1,565 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Estée Lauder Companies during the 4th quarter worth approximately $358,000. AGF Management Ltd. bought a new position in shares of Estée Lauder Companies in the fourth quarter worth approximately $213,000. Markel Group Inc. boosted its position in shares of Estée Lauder Companies by 7.1% in the fourth quarter. Markel Group Inc. now owns 15,000 shares of the company's stock worth $1,125,000 after purchasing an additional 1,000 shares during the period. Finally, Channing Capital Management LLC increased its stake in shares of Estée Lauder Companies by 43.5% in the fourth quarter. Channing Capital Management LLC now owns 96,366 shares of the company's stock worth $7,226,000 after purchasing an additional 29,202 shares in the last quarter. Hedge funds and other institutional investors own 55.15% of the company's stock.
Estée Lauder Companies Trading Up 3.7 %
NYSE EL traded up $2.45 on Monday, hitting $68.97. 2,775,520 shares of the stock were exchanged, compared to its average volume of 4,081,229. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.97 and a current ratio of 1.37. The Estée Lauder Companies Inc. has a 52-week low of $62.29 and a 52-week high of $155.73. The firm has a market capitalization of $24.76 billion, a P/E ratio of -35.37, a P/E/G ratio of 6.09 and a beta of 1.08. The stock has a fifty day moving average price of $73.54 and a two-hundred day moving average price of $78.65.
Estée Lauder Companies (NYSE:EL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.30. Estée Lauder Companies had a negative net margin of 4.61% and a positive return on equity of 16.82%. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.98 billion. During the same period in the previous year, the company earned $0.88 EPS. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts forecast that The Estée Lauder Companies Inc. will post 1.36 EPS for the current fiscal year.
Estée Lauder Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.03%. Estée Lauder Companies's payout ratio is -71.79%.
Analysts Set New Price Targets
EL has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price target on shares of Estée Lauder Companies in a research note on Friday, January 31st. Piper Sandler increased their target price on Estée Lauder Companies from $91.00 to $98.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group decreased their target price on Estée Lauder Companies from $76.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley dropped their price target on Estée Lauder Companies from $85.00 to $81.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Finally, Barclays reduced their price objective on shares of Estée Lauder Companies from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Twenty investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $86.00.
Get Our Latest Report on Estée Lauder Companies
Insider Buying and Selling
In related news, CFO Akhil Shrivastava acquired 700 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $65.79 per share, for a total transaction of $46,053.00. Following the acquisition, the chief financial officer now directly owns 2,381 shares of the company's stock, valued at $156,645.99. This represents a 41.64 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul J. Fribourg acquired 43,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $66.35 per share, with a total value of $2,853,050.00. Following the completion of the transaction, the director now owns 430,800 shares in the company, valued at $28,583,580. This trade represents a 11.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.78% of the stock is owned by corporate insiders.
About Estée Lauder Companies
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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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