Amalgamated Bank cut its stake in Estee Lauder Companies Inc (NYSE:EL) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,028 shares of the company’s stock after selling 1,067 shares during the quarter. Amalgamated Bank’s holdings in Estee Lauder Companies were worth $4,800,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Estee Lauder Companies by 0.9% in the 2nd 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 during the period. JPMorgan Chase & Co. increased its holdings in shares of Estee Lauder Companies by 112.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,032,887 shares of the company’s stock valued at $1,022,019,000 after acquiring an additional 3,716,962 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Estee Lauder Companies by 15.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,117 shares of the company’s stock valued at $747,400,000 after acquiring an additional 701,827 shares during the period. Fundsmith Equity Fund L.P. purchased a new position in shares of Estee Lauder Companies in the 2nd quarter valued at $701,543,000. Finally, Northern Trust Corp increased its holdings in shares of Estee Lauder Companies by 1.7% in the 2nd 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 during the period. Institutional investors and hedge funds own 55.98% of the company’s stock.
In other Estee Lauder Companies news, Director Paul J. Fribourg sold 13,759 shares of Estee Lauder Companies stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $152.54, for a total transaction of $2,098,797.86. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,191,795.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexandra C. Trower sold 4,781 shares of Estee Lauder Companies stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $145.02, for a total value of $693,340.62. Following the sale, the executive vice president now directly owns 18,584 shares of the company’s stock, valued at approximately $2,695,051.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,907 shares of company stock valued at $37,950,946. 16.13% of the stock is currently owned by insiders.
Estee Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Estee Lauder Companies Inc will post 4.83 EPS for the current fiscal year.
The company also recently declared 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 of this dividend is Thursday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.25%. This is a boost from Estee Lauder Companies’s previous quarterly dividend of $0.38. Estee Lauder Companies’s payout ratio is currently 38.14%.
A number of research analysts have recently issued reports on EL shares. Wells Fargo & Co cut their price target on Estee Lauder Companies from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 17th. JPMorgan Chase & Co. downgraded Estee Lauder Companies from an “overweight” rating to a “neutral” rating and set a $138.00 price target on the stock. in a report on Friday, October 12th. Citigroup lowered their price objective on Estee Lauder Companies from $158.00 to $149.00 and set a “neutral” rating for the company in a research report on Tuesday, August 21st. Atlantic Securities started coverage on Estee Lauder Companies in a research report on Thursday, September 20th. They issued an “overweight” rating and a $162.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on Estee Lauder Companies from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Estee Lauder Companies presently has an average rating of “Buy” and a consensus price target of $146.77.
About Estee Lauder Companies
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.
See Also: What is Cost of Capital?
Receive News & Ratings for Estee Lauder Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Estee Lauder Companies and related companies with MarketBeat.com's FREE daily email newsletter.