Parsec Financial Management Inc. Boosts Position in Estee Lauder Companies Inc (NYSE:EL)

Parsec Financial Management Inc. boosted its position in shares of Estee Lauder Companies Inc (NYSE:EL) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,548 shares of the company’s stock after acquiring an additional 510 shares during the quarter. Parsec Financial Management Inc.’s holdings in Estee Lauder Companies were worth $5,411,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Machina Capital S.A.S. purchased a new stake in Estee Lauder Companies in the fourth quarter worth about $30,000. NuWave Investment Management LLC purchased a new stake in Estee Lauder Companies in the second quarter worth about $33,000. Thor Advisors LLC purchased a new stake in Estee Lauder Companies in the first quarter worth about $37,000. Anderson Fisher LLC purchased a new stake in Estee Lauder Companies in the first quarter worth about $43,000. Finally, Trust Co. of Vermont increased its position in Estee Lauder Companies by 112.1% in the first quarter. Trust Co. of Vermont now owns 263 shares of the company’s stock worth $44,000 after buying an additional 139 shares in the last quarter. Institutional investors own 54.17% of the company’s stock.

A number of analysts have commented on EL shares. Piper Jaffray Companies restated an “overweight” rating and issued a $760.00 price target (up previously from $755.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 25th. Wells Fargo & Co upped their price objective on Restaurant Brands International from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. Macquarie lowered Janus Henderson Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 2nd. Raymond James reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Finally, Oppenheimer began coverage on Focus Financial Partners in a research note on Monday, April 8th. They issued an “outperform” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Estee Lauder Companies has an average rating of “Buy” and an average target price of $171.95.

In related news, Director Irvine O. Hockaday, Jr. sold 15,949 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $170.55, for a total transaction of $2,720,101.95. Following the completion of the transaction, the director now directly owns 16,446 shares of the company’s stock, valued at $2,804,865.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lynn Forester sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $172.48, for a total value of $1,724,800.00. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at $2,414,720. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,036,232 shares of company stock valued at $505,105,319. 16.13% of the stock is owned by corporate insiders.

Shares of NYSE EL traded down $0.95 during mid-day trading on Tuesday, reaching $191.11. The company’s stock had a trading volume of 36,586 shares, compared to its average volume of 955,653. The company has a market cap of $70.09 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 2.54 and a beta of 0.81. The company has a quick ratio of 1.26, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $184.52. Estee Lauder Companies Inc has a 52 week low of $121.47 and a 52 week high of $192.97.

Estee Lauder Companies (NYSE:EL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.25. Estee Lauder Companies had a return on equity of 43.52% and a net margin of 12.45%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Estee Lauder Companies Inc will post 5.22 EPS for the current fiscal year.

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.

Further Reading: Bear Market

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Institutional Ownership by Quarter for Estee Lauder Companies (NYSE:EL)

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