World Investment Advisors LLC bought a new position in shares of The Estée Lauder Companies Inc. (NYSE:EL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,595 shares of the company's stock, valued at approximately $1,555,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in shares of Estée Lauder Companies by 79.4% during the 3rd 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 during the last quarter. Marshall Wace LLP raised its holdings in shares of Estée Lauder Companies by 3,065.6% in the second 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 last quarter. Two Sigma Advisers LP lifted its position in Estée Lauder Companies by 80.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,934,200 shares of the company's stock worth $292,510,000 after acquiring an additional 1,310,900 shares during the period. Van ECK Associates Corp grew its position in Estée Lauder Companies by 36.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company's stock valued at $402,938,000 after buying an additional 1,078,926 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its stake in shares of Estée Lauder Companies by 44.4% during the second quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company's stock worth $368,788,000 after acquiring an additional 1,066,320 shares during the period. 55.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Estée Lauder Companies
In other news, CEO Fabrizio Freda sold 10,969 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $67.76, for a total value of $743,259.44. Following the transaction, the chief executive officer now owns 295,838 shares of the company's stock, valued at approximately $20,045,982.88. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Fribourg purchased 75,500 shares of the business's stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $64.93 per share, with a total value of $4,902,215.00. Following the acquisition, the director now owns 310,000 shares in the company, valued at $20,128,300. This trade represents a 32.20 % increase in their position. The disclosure for this purchase can be found here. 12.78% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of 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. Stifel Nicolaus downgraded shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group dropped 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 note on Friday, November 1st. Canaccord Genuity Group cut their target price on Estée Lauder Companies from $100.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Finally, B. Riley dropped their price target on Estée Lauder Companies from $95.00 to $70.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Nineteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $98.57.
View Our Latest Research Report on Estée Lauder Companies
Estée Lauder Companies Price Performance
EL stock traded down $0.98 during midday trading on Friday, reaching $80.04. 2,842,835 shares of the company's stock traded hands, compared to its average volume of 3,580,416. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 142.93, a PEG ratio of 5.33 and a beta of 1.05. The company has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $92.62. The Estée Lauder Companies Inc. has a 1-year low of $62.29 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 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The business's quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. On average, analysts anticipate that The Estée Lauder Companies Inc. will post 1.46 earnings per share for the current year.
Estée Lauder Companies Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.35 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.75%. Estée Lauder Companies's payout ratio is 250.00%.
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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