Estee Lauder Companies Inc. (EL) Shares Sold by Pitcairn Co.
Pitcairn Co. lowered its stake in shares of Estee Lauder Companies Inc. (NYSE:EL) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 34,808 shares of the company’s stock after selling 235 shares during the period. Estee Lauder Companies comprises approximately 0.4% of Pitcairn Co.’s portfolio, making the stock its 28th largest position. Pitcairn Co.’s holdings in Estee Lauder Companies were worth $3,169,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Estee Lauder Companies by 151.1% in the second quarter. Creative Planning now owns 1,273 shares of the company’s stock worth $116,000 after buying an additional 766 shares during the last quarter. FCM Investments TX bought a new stake in shares of Estee Lauder Companies during the second quarter worth $137,000. Associated Banc Corp bought a new stake in shares of Estee Lauder Companies during the first quarter worth $204,000. Compton Capital Management Inc. RI bought a new stake in shares of Estee Lauder Companies during the first quarter worth $205,000. Finally, Checchi Capital Advisers LLC increased its stake in shares of Estee Lauder Companies by 1.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,188 shares of the company’s stock worth $199,000 after buying an additional 26 shares in the last quarter. 55.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Estee Lauder Companies Inc. (NYSE:EL) traded down 0.39% during trading on Monday, reaching $87.38. The company’s stock had a trading volume of 1,236,786 shares. The stock has a market cap of $31.96 billion, a price-to-earnings ratio of 29.52 and a beta of 0.95. Estee Lauder Companies Inc. has a one year low of $77.02 and a one year high of $97.48. The company has a 50-day moving average price of $90.94 and a 200-day moving average price of $92.64.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Friday, August 19th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.15. The firm earned $2.65 billion during the quarter. Estee Lauder Companies had a net margin of 9.90% and a return on equity of 33.20%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities research analysts forecast that Estee Lauder Companies Inc. will post ($0.06) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.30 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. Estee Lauder Companies’s dividend payout ratio is presently 40.40%.
EL has been the topic of a number of recent analyst reports. Goldman Sachs Group Inc. initiated coverage on shares of Estee Lauder Companies in a research note on Sunday, September 11th. They issued a “buy” rating and a $105.00 target price on the stock. Bank of America Corp. reaffirmed a “buy” rating and issued a $103.00 target price on shares of Estee Lauder Companies in a research note on Tuesday, August 23rd. Vetr raised shares of Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $94.06 target price on the stock in a research note on Tuesday, August 30th. Credit Agricole SA reaffirmed a “buy” rating and issued a $110.00 target price on shares of Estee Lauder Companies in a research note on Friday. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Estee Lauder Companies in a research note on Saturday, August 13th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$100.97.
In related news, Chairman Ronald S. Lauder sold 500,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of C$88.91, for a total value of C$44,455,000.00. Following the sale, the chairman now owns 608,500 shares in the company, valued at approximately C$54,101,735. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cedric Prouve sold 82,608 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of C$88.97, for a total value of C$7,349,633.76. Following the completion of the sale, the insider now owns 277,578 shares in the company, valued at approximately C$24,696,114.66. The disclosure for this sale can be found here. 16.87% of the stock is owned by corporate insiders.
About Estee Lauder Companies
The Estee Lauder Companies Inc, is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, Le Labo, M.A.C, Bobbi Brown, La Mer and Aveda.
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