Raymond James Financial Inc. bought a new position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 836,916 shares of the company's stock, valued at approximately $62,752,000. Raymond James Financial Inc. owned 0.23% of Estée Lauder Companies at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $570,600,000 after buying an additional 2,533,006 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Estée Lauder Companies by 81.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,971,550 shares of the company's stock worth $222,807,000 after purchasing an additional 1,330,840 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Estée Lauder Companies by 80.8% in the third quarter. Two Sigma Advisers LP now owns 2,934,200 shares of the company's stock valued at $292,510,000 after buying an additional 1,310,900 shares during the period. Worldquant Millennium Advisors LLC boosted its position in shares of Estée Lauder Companies by 695.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,123,427 shares of the company's stock worth $111,994,000 after purchasing an additional 982,183 shares during the last quarter. Finally, Nuance Investments LLC grew its position in shares of Estée Lauder Companies by 1,127.5% during the 3rd quarter. Nuance Investments LLC now owns 1,059,080 shares of the company's stock worth $105,580,000 after buying an additional 972,799 shares during the period. Institutional investors and hedge funds own 55.15% of the company's stock.
Insider Transactions at Estée Lauder Companies
In other Estée Lauder Companies news, Director Paul J. Fribourg bought 43,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of $66.35 per share, with a total value of $2,853,050.00. Following the completion of the purchase, the director now directly owns 430,800 shares of the company's stock, valued at approximately $28,583,580. This trade represents a 11.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akhil Shrivastava purchased 700 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $65.79 per share, for a total transaction of $46,053.00. Following the completion of the purchase, the chief financial officer now owns 2,381 shares of the company's stock, valued at approximately $156,645.99. This trade represents a 41.64 % increase in their position. The disclosure for this purchase can be found here. 12.78% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts have commented on EL shares. Stifel Nicolaus dropped their target price on shares of Estée Lauder Companies from $81.00 to $77.00 and set a "hold" rating on the stock in a report on Wednesday, February 5th. Morgan Stanley reduced their price objective on Estée Lauder Companies from $85.00 to $81.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Telsey Advisory Group reiterated a "market perform" rating and set a $76.00 price objective on shares of Estée Lauder Companies in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 price target on shares of Estée Lauder Companies in a research report on Friday, January 31st. Finally, Barclays lowered 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 report on Thursday, February 6th. Twenty analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $86.00.
View Our Latest Stock Analysis on EL
Estée Lauder Companies Price Performance
EL stock traded up $1.78 during midday trading on Friday, reaching $66.64. 3,995,159 shares of the stock were exchanged, compared to its average volume of 3,719,983. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.37 and a quick ratio of 0.97. The stock has a market capitalization of $23.92 billion, a PE ratio of -34.17, a P/E/G ratio of 6.09 and a beta of 1.08. The Estée Lauder Companies Inc. has a 52 week low of $62.29 and a 52 week high of $157.49. The company has a fifty day moving average price of $73.65 and a 200 day moving average price of $79.03.
Estée Lauder Companies (NYSE:EL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.30. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.98 billion. Estée Lauder Companies had a negative net margin of 4.61% and a positive return on equity of 16.82%. The company's revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. As a group, analysts expect that The Estée Lauder Companies Inc. will post 1.36 EPS for the current fiscal year.
Estée Lauder Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. Estée Lauder Companies's payout ratio is -71.79%.
Estée Lauder Companies Profile
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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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