Impax Asset Management Group plc lifted its position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 21.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,498 shares of the company's stock after buying an additional 14,688 shares during the period. Impax Asset Management Group plc's holdings in Estée Lauder Companies were worth $8,324,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of EL. Armistice Capital LLC boosted its stake in shares of Estée Lauder Companies by 111.8% during the 2nd quarter. Armistice Capital LLC now owns 182,312 shares of the company's stock worth $19,398,000 after buying an additional 96,239 shares during the last quarter. Marshall Wace LLP grew its position in shares of Estée Lauder Companies by 3,065.6% in the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company's stock valued at $211,000,000 after acquiring an additional 1,920,439 shares during the period. Headlands Technologies LLC acquired a new position in Estée Lauder Companies during the second quarter worth approximately $6,043,000. Transcend Capital Advisors LLC bought a new stake in Estée Lauder Companies in the 2nd quarter valued at $558,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Estée Lauder Companies by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 367,218 shares of the company's stock worth $56,608,000 after buying an additional 5,915 shares during the last quarter. 55.15% of the stock is currently owned by institutional investors.
Estée Lauder Companies Trading Down 3.9 %
EL stock traded down $2.58 during midday trading on Wednesday, hitting $63.28. The stock had a trading volume of 8,084,002 shares, compared to its average volume of 3,408,255. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market cap of $22.70 billion, a P/E ratio of 117.66, a price-to-earnings-growth ratio of 1.17 and a beta of 1.05. The business has a fifty day moving average price of $88.99 and a two-hundred day moving average price of $104.88. The Estée Lauder Companies Inc. has a 1-year low of $62.88 and a 1-year high of $159.75.
Estée Lauder Companies (NYSE:EL - Get Free Report) last announced its quarterly earnings data 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. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the previous year, the business earned $0.11 EPS. The firm's revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts predict that The Estée Lauder Companies Inc. will post 2.95 earnings per share for the current fiscal year.
Estée Lauder Companies Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, November 29th. Estée Lauder Companies's dividend payout ratio (DPR) is 250.00%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on EL. Morgan Stanley cut their price objective on shares of Estée Lauder Companies from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Citigroup cut Estée Lauder Companies from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $105.00 to $80.00 in a research report on Thursday, October 31st. Hsbc Global Res cut shares of Estée Lauder Companies from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 16th. HSBC lowered shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $100.00 price target on the stock. in a research report on Wednesday, October 16th. Finally, Bank of America cut their price objective on shares of Estée Lauder Companies from $100.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Nineteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $100.90.
Check Out Our Latest Research Report on Estée Lauder Companies
Insider Activity
In other news, CEO Fabrizio Freda sold 10,969 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $67.76, for a total transaction of $743,259.44. Following the transaction, the chief executive officer now owns 295,838 shares in the company, valued at approximately $20,045,982.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Charlene Barshefsky sold 3,437 shares of Estée Lauder Companies stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the sale, the director now owns 49,800 shares of the company's stock, valued at approximately $4,578,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Fabrizio Freda sold 10,969 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $67.76, for a total transaction of $743,259.44. Following the transaction, the chief executive officer now owns 295,838 shares in the company, valued at approximately $20,045,982.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,296 shares of company stock worth $1,423,366 in the last quarter. 12.78% of the stock is owned by corporate insiders.
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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