Pinebridge Investments L.P. boosted its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) by 407.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 867 shares of the company’s stock after acquiring an additional 696 shares during the period. Pinebridge Investments L.P.’s holdings in Estée Lauder Companies were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Morgan Stanley grew its position in shares of Estée Lauder Companies by 100.7% in the second quarter. Morgan Stanley now owns 3,778,605 shares of the company’s stock valued at $1,201,900,000 after purchasing an additional 1,895,658 shares during the last quarter. Brown Advisory Inc. grew its stake in Estée Lauder Companies by 26.5% during the fourth quarter. Brown Advisory Inc. now owns 3,241,559 shares of the company’s stock worth $1,200,024,000 after buying an additional 678,097 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Estée Lauder Companies by 185.3% during the third quarter. Point72 Asset Management L.P. now owns 170,592 shares of the company’s stock worth $51,166,000 after buying an additional 370,592 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Estée Lauder Companies by 954.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 357,523 shares of the company’s stock worth $107,232,000 after acquiring an additional 323,623 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Estée Lauder Companies in the fourth quarter worth about $91,613,000. Hedge funds and other institutional investors own 58.85% of the company’s stock.
In other news, Director Charlene Barshefsky sold 1,158 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $238.34, for a total value of $275,997.72. Following the completion of the transaction, the director now directly owns 46,828 shares of the company’s stock, valued at approximately $11,160,985.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.91% of the company’s stock.
Estée Lauder Companies (NYSE:EL – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Estée Lauder Companies had a return on equity of 45.06% and a net margin of 18.53%. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the business earned $1.62 EPS. Estée Lauder Companies’s revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that The Estée Lauder Companies Inc. will post 7.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, May 27th. Estée Lauder Companies’s dividend payout ratio (DPR) is presently 26.26%.
A number of brokerages recently issued reports on EL. Stifel Nicolaus dropped their price objective on shares of Estée Lauder Companies from $355.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday, April 5th. Bank of America reduced their price objective on shares of Estée Lauder Companies from $375.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, February 4th. Royal Bank of Canada reduced their price objective on shares of Estée Lauder Companies from $361.00 to $322.00 in a research report on Wednesday, May 4th. UBS Group reduced their price target on shares of Estée Lauder Companies from $352.00 to $326.00 and set a “neutral” rating for the company in a research report on Friday, February 4th. Finally, Credit Suisse Group dropped their price objective on Estée Lauder Companies from $365.00 to $320.00 in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $332.29.
Estée Lauder Companies Company Profile (Get Rating)
The Estée 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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