Logan Capital Management Inc. reduced its position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 31.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,551 shares of the company's stock after selling 9,619 shares during the quarter. Logan Capital Management Inc.'s holdings in Estée Lauder Companies were worth $2,049,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. ORG Partners LLC lifted its stake in Estée Lauder Companies by 1,792.3% during the second quarter. ORG Partners LLC now owns 492 shares of the company's stock valued at $52,000 after purchasing an additional 466 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Estée Lauder Companies by 4.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,873 shares of the company's stock valued at $2,008,000 after buying an additional 782 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Estée Lauder Companies by 1,271.4% during the 2nd quarter. Blue Trust Inc. now owns 3,264 shares of the company's stock valued at $347,000 after acquiring an additional 3,026 shares during the last quarter. Boomfish Wealth Group LLC boosted its stake in shares of Estée Lauder Companies by 28.2% during the 2nd quarter. Boomfish Wealth Group LLC now owns 10,529 shares of the company's stock worth $1,120,000 after acquiring an additional 2,319 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Estée Lauder Companies by 1.2% in the 2nd quarter. Raymond James & Associates now owns 716,104 shares of the company's stock worth $76,193,000 after acquiring an additional 8,739 shares during the last quarter. 55.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Estée Lauder Companies
In other Estée Lauder Companies news, CEO Fabrizio Freda sold 10,969 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $67.76, for a total transaction of $743,259.44. Following the completion of the transaction, the chief executive officer now owns 295,838 shares of the company's stock, valued at $20,045,982.88. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Fribourg purchased 77,500 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $64.01 per share, for a total transaction of $4,960,775.00. Following the completion of the transaction, the director now owns 234,500 shares of the company's stock, valued at $15,010,345. The trade was a 49.36 % increase in their position. The disclosure for this purchase can be found here. 12.78% of the stock is owned by company insiders.
Estée Lauder Companies Stock Down 1.2 %
NYSE EL traded down $0.98 during trading on Friday, reaching $80.04. The company's stock had a trading volume of 2,842,835 shares, compared to its average volume of 3,580,416. The business has a 50-day moving average price of $78.25 and a 200-day moving average price of $92.85. The Estée Lauder Companies Inc. has a 1-year low of $62.29 and a 1-year high of $159.75. The stock has a market capitalization of $28.73 billion, a PE ratio of 142.93, a PEG ratio of 5.33 and a beta of 1.05. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44.
Estée Lauder Companies (NYSE:EL - Get Free Report) last released its quarterly earnings data 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 business 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%. Estée Lauder Companies's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 29th. Estée Lauder Companies's dividend payout ratio is 250.00%.
Analysts Set New Price Targets
EL has been the subject of several analyst reports. Wells Fargo & Company downgraded Estée Lauder Companies from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $105.00 to $72.00 in a report on Thursday, October 31st. Citigroup lowered shares of Estée Lauder Companies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $105.00 to $80.00 in a research note on Thursday, October 31st. Stifel Nicolaus downgraded shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research report on Thursday, October 31st. HSBC downgraded shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a research report on Wednesday, October 16th. Finally, TD Cowen lowered their price objective on shares of Estée Lauder Companies from $95.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. Nineteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $98.57.
Read Our Latest Stock Report on Estée Lauder Companies
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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