Penobscot Investment Management Company Inc. bought a new stake in Estee Lauder Companies Inc (NYSE:EL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,350 shares of the company’s stock, valued at approximately $269,000.
A number of other institutional investors have also recently bought and sold shares of the business. Next Capital Management LLC acquired a new stake in Estee Lauder Companies during the second quarter worth approximately $25,000. Massey Quick Simon & CO. LLC grew its stake in Estee Lauder Companies by 387.9% during the second quarter. Massey Quick Simon & CO. LLC now owns 161 shares of the company’s stock worth $29,000 after purchasing an additional 128 shares during the period. Acima Private Wealth LLC grew its stake in Estee Lauder Companies by 185.2% during the third quarter. Acima Private Wealth LLC now owns 154 shares of the company’s stock worth $30,000 after purchasing an additional 100 shares during the period. KCS Wealth Advisory acquired a new stake in Estee Lauder Companies during the third quarter worth approximately $31,000. Finally, NuWave Investment Management LLC acquired a new stake in Estee Lauder Companies during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.
In other news, EVP Gregory Polcer sold 2,997 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $185.43, for a total value of $555,733.71. Following the transaction, the executive vice president now owns 85,723 shares in the company, valued at $15,895,615.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fabrizio Freda sold 28,819 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $206.51, for a total value of $5,951,411.69. Following the completion of the transaction, the chief executive officer now owns 93,360 shares in the company, valued at approximately $19,279,773.60. The disclosure for this sale can be found here. Insiders sold 2,214,755 shares of company stock valued at $434,929,789 in the last three months. Insiders own 14.68% of the company’s stock.
Estee Lauder Companies (NYSE:EL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.07. Estee Lauder Companies had a return on equity of 46.14% and a net margin of 12.34%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts forecast that Estee Lauder Companies Inc will post 5.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, November 27th. This is a boost from Estee Lauder Companies’s previous quarterly dividend of $0.43. Estee Lauder Companies’s dividend payout ratio (DPR) is 32.21%.
Several research firms recently commented on EL. DA Davidson raised their target price on Estee Lauder Companies from $6.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. They noted that the move was a valuation call. UBS Group decreased their target price on Estee Lauder Companies from $205.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Wells Fargo & Co raised their target price on Estee Lauder Companies from $175.00 to $190.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Estee Lauder Companies in a research note on Friday, November 1st. Finally, Deutsche Bank decreased their target price on Estee Lauder Companies from $220.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $194.96.
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.
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