Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 3.8% in the 1st quarter, Holdings Channel reports. The firm owned 15,236 shares of the company’s stock after purchasing an additional 551 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Estee Lauder Companies were worth $2,522,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in EL. HC Financial Advisors Inc. acquired a new stake in shares of Estee Lauder Companies during the 3rd quarter valued at approximately $975,000. JPMorgan Chase & Co. raised its position in shares of Estee Lauder Companies by 112.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,032,887 shares of the company’s stock valued at $1,022,019,000 after acquiring an additional 3,716,962 shares in the last quarter. Morgan Stanley raised its position in shares of Estee Lauder Companies by 31.8% during the 3rd quarter. Morgan Stanley now owns 1,768,886 shares of the company’s stock valued at $257,057,000 after acquiring an additional 427,074 shares in the last quarter. Vanguard Group Inc raised its position in shares of Estee Lauder Companies by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 16,758,108 shares of the company’s stock valued at $2,435,289,000 after acquiring an additional 117,152 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Estee Lauder Companies during the 4th quarter valued at approximately $785,000. 53.06% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Credit Suisse Group increased their target price on Estee Lauder Companies from $175.00 to $185.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. ValuEngine raised Estee Lauder Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $142.00 target price (up from $135.00) on shares of Estee Lauder Companies in a research report on Tuesday, February 5th. Royal Bank of Canada increased their target price on Estee Lauder Companies to $173.00 and gave the stock a “positive” rating in a research report on Thursday, March 7th. Finally, Berenberg Bank lowered Estee Lauder Companies from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $170.78.
Estee Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.25. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.56 billion. Estee Lauder Companies had a return on equity of 43.52% and a net margin of 12.45%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. Sell-side analysts anticipate that Estee Lauder Companies Inc will post 5.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, May 30th. Estee Lauder Companies’s dividend payout ratio (DPR) is 38.14%.
In other news, Director Lynn Forester sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $172.48, for a total transaction of $1,724,800.00. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at $2,414,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Irvine O. Hockaday, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $155.31, for a total value of $232,965.00. The disclosure for this sale can be found here. Insiders have sold 3,356,644 shares of company stock worth $555,878,019 over the last three months. Corporate insiders own 16.13% of the company’s stock.
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Estee Lauder Companies Company Profile
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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