M&T Bank Corp boosted its holdings in Estee Lauder Companies Inc (NYSE:EL) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,448 shares of the company’s stock after acquiring an additional 2,532 shares during the quarter. M&T Bank Corp’s holdings in Estee Lauder Companies were worth $16,196,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in EL. FMR LLC raised its position in Estee Lauder Companies by 10.9% in the first quarter. FMR LLC now owns 17,499,760 shares of the company’s stock worth $2,897,086,000 after acquiring an additional 1,724,423 shares in the last quarter. Bank of Montreal Can boosted its stake in Estee Lauder Companies by 130.6% in the 2nd quarter. Bank of Montreal Can now owns 834,111 shares of the company’s stock worth $152,734,000 after buying an additional 472,325 shares during the last quarter. Jennison Associates LLC boosted its stake in Estee Lauder Companies by 6.2% in the 1st quarter. Jennison Associates LLC now owns 7,412,572 shares of the company’s stock worth $1,227,151,000 after buying an additional 435,327 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Estee Lauder Companies by 283.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 502,118 shares of the company’s stock worth $83,126,000 after buying an additional 371,039 shares during the last quarter. Finally, Fundsmith LLP boosted its stake in Estee Lauder Companies by 5.6% in the 1st quarter. Fundsmith LLP now owns 6,631,703 shares of the company’s stock worth $1,097,878,000 after buying an additional 349,306 shares during the last quarter. Hedge funds and other institutional investors own 54.59% of the company’s stock.
In other Estee Lauder Companies news, EVP Alexandra C. Trower sold 6,608 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $203.78, for a total transaction of $1,346,578.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hudis Jane Hertzmark sold 17,842 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $202.64, for a total value of $3,615,502.88. Following the sale, the insider now owns 219,807 shares of the company’s stock, valued at approximately $44,541,690.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,806 shares of company stock worth $10,885,923. Company insiders own 16.13% of the company’s stock.
Shares of NYSE:EL traded up $0.56 during mid-day trading on Wednesday, hitting $200.05. 1,587,288 shares of the company traded hands, compared to its average volume of 1,993,965. The firm has a market cap of $71.43 billion, a P/E ratio of 37.46, a PEG ratio of 2.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.13 and a current ratio of 1.57. Estee Lauder Companies Inc has a 52-week low of $121.47 and a 52-week high of $206.00. The firm’s 50 day simple moving average is $189.80 and its 200 day simple moving average is $173.96.
Estee Lauder Companies (NYSE:EL) last announced its earnings results on Monday, August 19th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.53 by $0.11. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.53 billion. Estee Lauder Companies had a return on equity of 44.43% and a net margin of 12.01%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Equities research analysts expect that Estee Lauder Companies Inc will post 5.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 0.86%. Estee Lauder Companies’s payout ratio is currently 32.21%.
A number of brokerages have issued reports on EL. Piper Jaffray Companies raised their price target on Estee Lauder Companies from $178.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Deutsche Bank restated a “buy” rating and issued a $221.00 price objective (up from $202.00) on shares of Estee Lauder Companies in a report on Tuesday, August 20th. Citigroup raised their price objective on Estee Lauder Companies from $197.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wells Fargo & Co raised their price objective on Estee Lauder Companies from $175.00 to $190.00 and gave the stock a “market perform” rating in a report on Monday, August 19th. Finally, UBS Group raised their price objective on Estee Lauder Companies from $172.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. Estee Lauder Companies currently has a consensus rating of “Buy” and an average price target of $188.88.
About Estee Lauder Companies
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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