TRU Independence Asset Management 2 LLC acquired a new position in shares of The Estée Lauder Companies Inc. (NYSE:EL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 215 shares of the company’s stock, valued at approximately $57,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EL. Norges Bank acquired a new position in The Estée Lauder Companies during the fourth quarter worth approximately $616,628,000. Jennison Associates LLC increased its holdings in shares of The Estée Lauder Companies by 32.9% during the 4th quarter. Jennison Associates LLC now owns 6,171,560 shares of the company’s stock worth $1,642,808,000 after acquiring an additional 1,528,409 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in The Estée Lauder Companies in the 4th quarter valued at $120,061,000. Price T Rowe Associates Inc. MD lifted its holdings in The Estée Lauder Companies by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,958,941 shares of the company’s stock valued at $787,641,000 after purchasing an additional 336,491 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in The Estée Lauder Companies by 6,351.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,209 shares of the company’s stock worth $88,963,000 after purchasing an additional 329,029 shares during the period. 54.98% of the stock is owned by institutional investors.
Shares of The Estée Lauder Companies stock opened at $295.13 on Thursday. The stock has a market capitalization of $107.06 billion, a P/E ratio of 179.96, a P/E/G ratio of 3.76 and a beta of 0.87. The Estée Lauder Companies Inc. has a 52-week low of $156.31 and a 52-week high of $299.74. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.39 and a current ratio of 1.85. The stock’s 50-day simple moving average is $289.05 and its 200 day simple moving average is $255.31.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 26th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $2.12 annualized dividend and a dividend yield of 0.72%. The Estée Lauder Companies’s dividend payout ratio is currently 51.46%.
EL has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of The Estée Lauder Companies from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $208.00 to $299.00 in a research note on Monday, February 8th. Deutsche Bank Aktiengesellschaft upped their target price on The Estée Lauder Companies from $307.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Oppenheimer lifted their price target on The Estée Lauder Companies from $250.00 to $265.00 and gave the stock an “outperform” rating in a report on Tuesday, February 2nd. Jefferies Financial Group raised The Estée Lauder Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from $240.00 to $310.00 in a report on Monday, February 8th. Finally, Morgan Stanley boosted their target price on shares of The Estée Lauder Companies from $312.00 to $331.00 and gave the company an “overweight” rating in a research report on Monday, March 1st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $283.55.
In related news, major shareholder Lal Family Partners Lp sold 2,000,000 shares of the company’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $282.19, for a total transaction of $564,380,000.00. Also, CFO Tracey Thomas Travis sold 22,924 shares of the stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $285.01, for a total transaction of $6,533,569.24. In the last three months, insiders sold 2,114,149 shares of company stock valued at $597,578,500. 13.95% of the stock is currently owned by corporate insiders.
The Estée Lauder Companies Company Profile
The EstÃ©e Lauder Companies Inc manufactures and markets skin care, makeup, fragrance, and hair care products. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.
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