Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,130 shares of the company’s stock after selling 154 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Estée Lauder Companies were worth $2,269,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its holdings in shares of Estée Lauder Companies by 73.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 80 shares of the company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Bell Investment Advisors Inc purchased a new position in Estée Lauder Companies in the 3rd quarter worth approximately $25,000. Mascoma Wealth Management LLC increased its stake in Estée Lauder Companies by 8,400.0% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the company’s stock worth $31,000 after purchasing an additional 84 shares during the period. Mizuho Securities Co. Ltd. increased its stake in Estée Lauder Companies by 405.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 101 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares during the period. Finally, Allworth Financial LP increased its stake in Estée Lauder Companies by 119.4% in the 4th quarter. Allworth Financial LP now owns 147 shares of the company’s stock worth $54,000 after purchasing an additional 80 shares during the period. 56.54% of the stock is currently owned by institutional investors.
In related news, EVP Carl P. Haney sold 1,152 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $307.94, for a total transaction of $354,746.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Demsey sold 10,027 shares of the company’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $319.68, for a total value of $3,205,431.36. The disclosure for this sale can be found here. Insiders sold 50,816 shares of company stock valued at $15,940,998 in the last 90 days. Company insiders own 12.91% of the company’s stock.
Estée Lauder Companies (NYSE:EL – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $3.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.38. Estée Lauder Companies had a return on equity of 44.71% and a net margin of 18.35%. The firm had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the business earned $2.61 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. Equities research analysts anticipate that The Estée Lauder Companies Inc. will post 7.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, February 25th. Estée Lauder Companies’s dividend payout ratio is currently 27.12%.
A number of brokerages have commented on EL. Piper Sandler lifted their price target on Estée Lauder Companies from $364.00 to $380.00 in a research note on Tuesday, January 25th. Bank of America cut their price objective on Estée Lauder Companies from $375.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, February 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Estée Lauder Companies from $327.00 to $334.00 and gave the stock a “hold” rating in a research report on Friday, February 4th. Raymond James cut their price objective on Estée Lauder Companies from $390.00 to $345.00 and set a “strong-buy” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus cut their price objective on Estée Lauder Companies from $355.00 to $335.00 and set a “buy” rating on the stock in a research report on Tuesday, April 5th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Estée Lauder Companies currently has an average rating of “Buy” and an average price target of $354.57.
About Estée Lauder Companies (Get Rating)
The EstÃ©e Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.
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