First Mercantile Trust Co. reduced its stake in Estee Lauder Companies Inc. (NYSE:EL) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,260 shares of the company’s stock after selling 893 shares during the period. First Mercantile Trust Co.’s holdings in Estee Lauder Companies were worth $297,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of EL. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Estee Lauder Companies during the second quarter worth $110,000. Creative Planning raised its stake in Estee Lauder Companies by 151.1% in the second quarter. Creative Planning now owns 1,273 shares of the company’s stock worth $116,000 after buying an additional 766 shares in the last quarter. Global X Management Co. LLC raised its stake in Estee Lauder Companies by 137.5% in the second quarter. Global X Management Co. LLC now owns 1,444 shares of the company’s stock worth $131,000 after buying an additional 836 shares in the last quarter. FCM Investments TX purchased a new stake in Estee Lauder Companies during the second quarter worth $137,000. Finally, Associated Banc Corp purchased a new stake in Estee Lauder Companies during the first quarter worth $204,000. Institutional investors own 55.36% of the company’s stock.
Shares of Estee Lauder Companies Inc. (NYSE:EL) opened at 88.56 on Friday. The company has a 50-day moving average of $89.63 and a 200 day moving average of $92.37. Estee Lauder Companies Inc. has a 12 month low of $80.18 and a 12 month high of $97.48. The company has a market cap of $32.39 billion, a PE ratio of 29.92 and a beta of 0.95.
Estee Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Friday, August 19th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.15. Estee Lauder Companies had a return on equity of 33.20% and a net margin of 9.90%. The business earned $2.65 billion during the quarter. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.20 annualized dividend and a yield of 1.36%. Estee Lauder Companies’s dividend payout ratio is presently 40.40%.
A number of analysts have weighed in on EL shares. Goldman Sachs Group Inc. restated a “neutral” rating and set a $100.00 price objective (up from $98.00) on shares of Estee Lauder Companies in a research note on Friday, July 15th. Vetr raised shares of Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $94.06 price target on the stock in a report on Tuesday, August 30th. Jefferies Group reaffirmed a “hold” rating and set a $98.00 price target on shares of Estee Lauder Companies in a report on Thursday, July 14th. Zacks Investment Research downgraded shares of Estee Lauder Companies from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Credit Agricole SA reaffirmed a “buy” rating and set a $110.00 price target on shares of Estee Lauder Companies in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Estee Lauder Companies currently has a consensus rating of “Buy” and an average price target of C$100.97.
In other Estee Lauder Companies news, EVP Gregory Polcer sold 3,602 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of C$88.01, for a total value of C$317,012.02. Following the sale, the executive vice president now owns 78,064 shares in the company, valued at approximately C$6,870,412.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Ronald S. Lauder sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of C$88.91, for a total value of C$44,455,000.00. Following the completion of the sale, the chairman now owns 608,500 shares in the company, valued at approximately C$54,101,735. The disclosure for this sale can be found here. 16.87% of the stock is owned by company insiders.
Estee Lauder Companies Company Profile
The Estee Lauder Companies Inc, is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, Le Labo, M.A.C, Bobbi Brown, La Mer and Aveda.
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