First Citizens Bank & Trust Co. bought a new position in Estee Lauder Companies Inc (NYSE:EL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,370 shares of the company’s stock, valued at approximately $1,829,000.
Several other institutional investors have also modified their holdings of EL. Jennison Associates LLC acquired a new stake in shares of Estee Lauder Companies in the third quarter worth $664,432,000. Janus Henderson Group PLC boosted its position in Estee Lauder Companies by 1,676.9% during the second quarter. Janus Henderson Group PLC now owns 4,695,498 shares of the company’s stock valued at $450,675,000 after purchasing an additional 4,431,247 shares during the last quarter. Northern Trust Corp boosted its position in Estee Lauder Companies by 41.1% during the second quarter. Northern Trust Corp now owns 3,732,174 shares of the company’s stock valued at $358,214,000 after purchasing an additional 1,086,562 shares during the last quarter. BlackRock Inc. boosted its position in Estee Lauder Companies by 7.4% during the second quarter. BlackRock Inc. now owns 14,797,992 shares of the company’s stock valued at $1,420,311,000 after purchasing an additional 1,022,956 shares during the last quarter. Finally, Fred Alger Management Inc. acquired a new stake in Estee Lauder Companies during the second quarter valued at $94,952,000. 53.59% of the stock is owned by institutional investors and hedge funds.
In other news, insider John Demsey sold 77,608 shares of Estee Lauder Companies 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 directly owns 23,305 shares in the company, valued at $2,971,853.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tracey Thomas Travis sold 5,469 shares of Estee Lauder Companies stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $122.00, for a total value of $667,218.00. Following the completion of the transaction, the chief financial officer now owns 37,083 shares in the company, valued at $4,524,126. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,566,381 shares of company stock worth $195,955,337. Corporate insiders own 16.24% of the company’s stock.
Estee Lauder Companies (NYSE:EL) last posted its earnings results on Wednesday, November 1st. The company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.24. Estee Lauder Companies had a return on equity of 33.64% and a net margin of 11.30%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. equities research analysts anticipate that Estee Lauder Companies Inc will post 4.17 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.38 per share. This is a positive change from Estee Lauder Companies’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 1.17%. The ex-dividend date was Wednesday, November 29th. Estee Lauder Companies’s dividend payout ratio (DPR) is 41.08%.
EL has been the subject of a number of research reports. Oppenheimer reissued a “buy” rating and set a $120.00 price objective (up previously from $110.00) on shares of Estee Lauder Companies in a research report on Wednesday, September 20th. Piper Jaffray Companies set a $135.00 price objective on Estee Lauder Companies and gave the company a “buy” rating in a research report on Wednesday, November 1st. Royal Bank of Canada set a $115.00 price objective on Estee Lauder Companies and gave the company a “buy” rating in a research report on Monday, October 23rd. Stifel Nicolaus lifted their price objective on Estee Lauder Companies from $114.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, KeyCorp set a $115.00 price objective on Estee Lauder Companies and gave the company a “buy” rating in a research report on Monday, October 16th. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $117.33.
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About Estee Lauder Companies
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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