Landsberg Bennett & Dubbaneh LLC lessened its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,106 shares of the company’s stock after selling 416 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Estee Lauder Companies were worth $3,162,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in EL. Magellan Asset Management Ltd purchased a new position in Estee Lauder Companies in the second quarter worth $442,334,000. Nuveen Asset Management LLC raised its position in Estee Lauder Companies by 41,387.9% in the second quarter. Nuveen Asset Management LLC now owns 2,343,235 shares of the company’s stock worth $429,069,000 after acquiring an additional 2,337,587 shares in the last quarter. Morgan Stanley raised its position in Estee Lauder Companies by 104.8% in the second quarter. Morgan Stanley now owns 3,750,994 shares of the company’s stock worth $686,843,000 after acquiring an additional 1,919,751 shares in the last quarter. 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. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Estee Lauder Companies in the second quarter worth $115,836,000. Institutional investors and hedge funds own 54.91% of the company’s stock.
Estee Lauder Companies stock traded up $4.16 during trading hours on Friday, hitting $193.85. The stock had a trading volume of 1,200,899 shares, compared to its average volume of 1,401,236. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.57 and a quick ratio of 1.13. The stock has a market capitalization of $68.22 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.49 and a beta of 0.77. Estee Lauder Companies Inc has a 1-year low of $121.47 and a 1-year high of $207.50. The stock’s fifty day moving average is $197.33 and its two-hundred day moving average is $180.90.
The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, August 29th. Estee Lauder Companies’s dividend payout ratio (DPR) is 32.21%.
Several research firms have issued reports on EL. DA Davidson increased their price objective on Estee Lauder Companies from $6.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on Estee Lauder Companies from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Zacks Investment Research upgraded Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a research report on Tuesday, August 20th. UBS Group increased their price objective on Estee Lauder Companies from $172.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Raymond James reiterated an “outperform” rating and issued a $216.00 price objective (up previously from $181.00) on shares of Estee Lauder Companies in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Estee Lauder Companies currently has a consensus rating of “Buy” and an average target price of $191.87.
In related news, Vice Chairman Sara E. Moss sold 6,274 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $193.55, for a total transaction of $1,214,332.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fabrizio Freda sold 28,819 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $206.51, for a total value of $5,951,411.69. Following the sale, the chief executive officer now directly owns 93,360 shares in the company, valued at approximately $19,279,773.60. The disclosure for this sale can be found here. Insiders sold 2,187,217 shares of company stock worth $429,841,069 in the last three months. 14.68% of the stock is owned by corporate insiders.
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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