Conning Inc. cut its stake in Estee Lauder Companies Inc (NYSE:EL) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,956 shares of the company’s stock after selling 510 shares during the period. Conning Inc.’s holdings in Estee Lauder Companies were worth $1,156,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Fundsmith Equity Fund L.P. purchased a new position in Estee Lauder Companies in the second quarter worth $701,543,000. 180 Wealth Advisors LLC grew its position in Estee Lauder Companies by 45.6% in the second quarter. 180 Wealth Advisors LLC now owns 3,926 shares of the company’s stock worth $560,000 after acquiring an additional 1,229 shares in the last quarter. Northern Trust Corp grew its position in Estee Lauder Companies by 1.7% in the second quarter. Northern Trust Corp now owns 3,801,166 shares of the company’s stock worth $542,387,000 after acquiring an additional 62,690 shares in the last quarter. Twin Tree Management LP grew its position in Estee Lauder Companies by 169.0% in the second quarter. Twin Tree Management LP now owns 31,797 shares of the company’s stock worth $4,537,000 after acquiring an additional 19,975 shares in the last quarter. Finally, Acropolis Investment Management LLC grew its position in Estee Lauder Companies by 4.6% in the third quarter. Acropolis Investment Management LLC now owns 8,137 shares of the company’s stock worth $1,182,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 55.95% of the company’s stock.
Several research analysts recently issued reports on EL shares. Wells Fargo & Co cut their target price on shares of Estee Lauder Companies from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 17th. JPMorgan Chase & Co. lowered shares of Estee Lauder Companies from an “overweight” rating to a “neutral” rating and set a $138.00 target price for the company. in a research report on Friday, October 12th. Citigroup cut their target price on shares of Estee Lauder Companies from $158.00 to $149.00 and set a “neutral” rating for the company in a research report on Tuesday, August 21st. Atlantic Securities started coverage on shares of Estee Lauder Companies in a research report on Thursday, September 20th. They issued an “overweight” rating and a $162.00 target price for the company. Finally, Stifel Nicolaus cut their target price on shares of Estee Lauder Companies from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company. Estee Lauder Companies presently has a consensus rating of “Buy” and an average price target of $145.87.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Monday, August 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Estee Lauder Companies had a net margin of 8.10% and a return on equity of 36.09%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. Sell-side analysts predict that Estee Lauder Companies Inc will post 4.73 earnings per share for the current fiscal year.
In other news, CEO Fabrizio Freda sold 31,055 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $138.42, for a total transaction of $4,298,633.10. Following the completion of the transaction, the chief executive officer now directly owns 99,008 shares of the company’s stock, valued at $13,704,687.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane Lauder sold 36,334 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $133.23, for a total transaction of $4,840,778.82. Following the transaction, the director now directly owns 45,037 shares of the company’s stock, valued at $6,000,279.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,756 shares of company stock valued at $14,739,082. Insiders own 16.13% of the company’s stock.
Estee Lauder Companies Profile
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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