Wealthspire Advisors LLC Sells 2,745 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Wealthspire Advisors LLC cut its stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 75.1% in the second quarter, HoldingsChannel reports. The fund owned 909 shares of the company’s stock after selling 2,745 shares during the period. Wealthspire Advisors LLC’s holdings in The Estée Lauder Companies were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of The Estée Lauder Companies by 20.9% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 2,871 shares of the company’s stock worth $835,000 after acquiring an additional 496 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of The Estée Lauder Companies during the 1st quarter worth approximately $1,616,000. Quilter Plc raised its holdings in shares of The Estée Lauder Companies by 14.6% during the 1st quarter. Quilter Plc now owns 3,851 shares of the company’s stock worth $1,121,000 after acquiring an additional 490 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of The Estée Lauder Companies by 1.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,732 shares of the company’s stock worth $8,357,000 after acquiring an additional 426 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of The Estée Lauder Companies by 28.2% during the 1st quarter. Prudential Financial Inc. now owns 231,314 shares of the company’s stock worth $67,277,000 after acquiring an additional 50,852 shares in the last quarter. Institutional investors and hedge funds own 56.00% of the company’s stock.

EL opened at $315.01 on Thursday. The Estée Lauder Companies Inc. has a 12-month low of $216.25 and a 12-month high of $347.82. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $325.29 and its 200-day simple moving average is $314.31. The company has a market capitalization of $113.81 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 3.94 and a beta of 0.94.

The Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Wednesday, August 18th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.28. The Estée Lauder Companies had a return on equity of 44.03% and a net margin of 17.70%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company earned ($0.53) EPS. The business’s revenue was up 62.0% compared to the same quarter last year. On average, equities research analysts predict that The Estée Lauder Companies Inc. will post 7.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, August 30th. The Estée Lauder Companies’s payout ratio is 32.87%.

Several brokerages have recently issued reports on EL. Berenberg Bank reaffirmed a “buy” rating on shares of The Estée Lauder Companies in a report on Friday, September 10th. DA Davidson increased their price target on The Estée Lauder Companies from $367.00 to $393.00 and gave the company a “buy” rating in a report on Friday, August 20th. Oppenheimer increased their price target on The Estée Lauder Companies from $330.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, July 22nd. Morgan Stanley increased their price target on The Estée Lauder Companies from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Monday, August 23rd. Finally, Evercore ISI increased their price target on The Estée Lauder Companies from $355.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, August 20th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $343.23.

In related news, EVP Michael O’hare sold 2,947 shares of the firm’s stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $343.18, for a total transaction of $1,011,351.46. Following the sale, the executive vice president now owns 6,916 shares of the company’s stock, valued at $2,373,432.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Zinterhofer Aerin Lauder Trust sold 184,293 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $335.95, for a total value of $61,913,233.35. The disclosure for this sale can be found here. Insiders have sold a total of 216,728 shares of company stock worth $72,868,619 in the last three months. Corporate insiders own 13.95% of the company’s stock.

About The Estée Lauder Companies

The Estée Lauder Companies, Inc engages in the manufacture of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MAC, Bobbi Brown, La Mer, Jo Malone London, Aveda and Too Faced. Its channels consist of department stores, multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas.

Recommended Story: History of the Euro STOXX 50 Index

Want to see what other hedge funds are holding EL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Estée Lauder Companies Inc. (NYSE:EL).

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

Receive News & Ratings for The Estée Lauder Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Estée Lauder Companies and related companies with MarketBeat.com's FREE daily email newsletter.