Comerica Securities Inc. lessened its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,658 shares of the company’s stock after selling 475 shares during the period. Comerica Securities Inc.’s holdings in Estee Lauder Companies were worth $968,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Estee Lauder Companies by 0.9% in the second quarter. BlackRock Inc. now owns 16,282,787 shares of the company’s stock valued at $2,323,392,000 after acquiring an additional 150,268 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in shares of Estee Lauder Companies in the second quarter valued at about $701,543,000. Northern Trust Corp lifted its position in shares of Estee Lauder Companies by 1.7% in the second quarter. Northern Trust Corp now owns 3,801,166 shares of the company’s stock valued at $542,387,000 after acquiring an additional 62,690 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Estee Lauder Companies by 15.2% in the second quarter. Wells Fargo & Company MN now owns 3,172,974 shares of the company’s stock valued at $452,750,000 after acquiring an additional 418,055 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Estee Lauder Companies by 13.2% in the second quarter. Acadian Asset Management LLC now owns 2,650,107 shares of the company’s stock valued at $378,143,000 after acquiring an additional 308,093 shares in the last quarter. 55.77% of the stock is owned by institutional investors and hedge funds.
In other Estee Lauder Companies news, Director Irvine O. Hockaday, Jr. sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $137.57, for a total transaction of $233,869.00. Following the sale, the director now directly owns 15,040 shares in the company, valued at $2,069,052.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sara E. Moss sold 11,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $141.89, for a total value of $1,618,113.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,228 shares of company stock worth $22,034,923. Company insiders own 16.13% of the company’s stock.
Estee Lauder Companies (NYSE:EL) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.19. Estee Lauder Companies had a return on equity of 38.29% and a net margin of 8.48%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Estee Lauder Companies Inc will post 4.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, November 29th. This is an increase from Estee Lauder Companies’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a yield of 1.21%. Estee Lauder Companies’s dividend payout ratio is 33.70%.
Several brokerages have recently commented on EL. Piper Jaffray Companies set a $156.00 price objective on Estee Lauder Companies and gave the company an “overweight” rating in a research report on Tuesday, August 21st. Raymond James boosted their price objective on Estee Lauder Companies from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. DA Davidson upgraded Estee Lauder Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $134.00 to $167.00 in a research report on Tuesday, August 21st. Zacks Investment Research downgraded Estee Lauder Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, October 1st. Finally, Deutsche Bank lowered their price objective on Estee Lauder Companies to $159.00 and set a “buy” rating on the stock in a research report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company. Estee Lauder Companies has an average rating of “Buy” and an average price target of $146.98.
Estee Lauder Companies Profile
The Estée Lauder Companies Inc manufactures and markets skin care, makeup, fragrance, and hair care products. The company offers a range of skin care products, such as moisturizers, serums, cleansers, toners, body care products, exfoliators, acne care products, facial masks, cleansing devices, and sun care products; and makeup products, including lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as related items, including compacts, brushes, and other makeup tools.
Read More: Earnings Per Share (EPS) Explained
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