Montrusco Bolton Investments Inc. reduced its position in Estee Lauder Companies Inc (NYSE:EL) by 45.9% during the 4th quarter, HoldingsChannel reports. The firm owned 65,079 shares of the company’s stock after selling 55,322 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Estee Lauder Companies were worth $8,268,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EL. Jennison Associates LLC acquired a new position in shares of Estee Lauder Companies in the 3rd quarter valued at about $664,432,000. Janus Henderson Group PLC raised its stake in shares of Estee Lauder Companies by 1,676.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,695,498 shares of the company’s stock worth $450,675,000 after buying an additional 4,431,247 shares in the last quarter. Northern Trust Corp raised its stake in shares of Estee Lauder Companies by 41.1% in the 2nd quarter. Northern Trust Corp now owns 3,732,174 shares of the company’s stock worth $358,214,000 after buying an additional 1,086,562 shares in the last quarter. BlackRock Inc. raised its position in shares of Estee Lauder Companies by 7.4% during the second quarter. BlackRock Inc. now owns 14,797,992 shares of the company’s stock worth $1,420,311,000 after purchasing an additional 1,022,956 shares during the period. Finally, Fred Alger Management Inc. acquired a new stake in shares of Estee Lauder Companies during the second quarter worth $94,952,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on EL. Zacks Investment Research raised Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research report on Tuesday. DA Davidson began coverage on Estee Lauder Companies in a research report on Wednesday, September 27th. They set a “neutral” rating and a $115.00 target price on the stock. Wells Fargo & Co boosted their target price on Estee Lauder Companies from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Citigroup boosted their target price on Estee Lauder Companies from $111.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Finally, Argus boosted their target price on Estee Lauder Companies from $125.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $117.33.
In other Estee Lauder Companies news, insider John Demsey sold 77,608 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $127.52, for a total value of $9,896,572.16. Following the transaction, the insider now owns 23,305 shares in the company, valued at $2,971,853.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard F. Zannino sold 23,312 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $119.23, for a total value of $2,779,489.76. Following the completion of the transaction, the director now owns 14,000 shares in the company, valued at approximately $1,669,220. The disclosure for this sale can be found here. Insiders sold 1,566,381 shares of company stock worth $195,955,337 in the last 90 days. Corporate insiders own 16.24% of the company’s stock.
Estee Lauder Companies Inc (EL) traded down $1.23 during trading hours on Friday, reaching $129.09. The company had a trading volume of 1,250,200 shares, compared to its average volume of 1,494,088. The firm has a market capitalization of $47,420.00, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.71. Estee Lauder Companies Inc has a 52-week low of $78.10 and a 52-week high of $132.49. The company has a quick ratio of 1.27, a current ratio of 1.75 and a debt-to-equity ratio of 0.71.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.24. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. Estee Lauder Companies had a return on equity of 33.64% and a net margin of 11.30%. Estee Lauder Companies’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. sell-side analysts anticipate that Estee Lauder Companies Inc will post 4.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.18%. This is an increase from Estee Lauder Companies’s previous quarterly dividend of $0.34. Estee Lauder Companies’s payout ratio is 41.08%.
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Estee Lauder Companies Profile
The Estee Lauder Companies Inc manufactures and markets skin care, makeup, fragrance and hair care products. The Company offers products, including skin care, makeup, fragrance, hair care and other. The Company operates in beauty products segment. The Company’s products are sold in over 150 countries and territories under brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frederic Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
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