JPMorgan Chase & Co. raised its position in shares of Estee Lauder Companies Inc (NYSE:EL) by 112.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,032,887 shares of the company’s stock after acquiring an additional 3,716,962 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.92% of Estee Lauder Companies worth $1,022,019,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. CSat Investment Advisory L.P. bought a new stake in shares of Estee Lauder Companies in the 2nd quarter worth approximately $106,000. NEXT Financial Group Inc bought a new stake in shares of Estee Lauder Companies in the 3rd quarter worth approximately $108,000. Amussen Hunsaker Associates LLC bought a new stake in shares of Estee Lauder Companies in the 2nd quarter worth approximately $112,000. Itau Unibanco Holding S.A. boosted its position in shares of Estee Lauder Companies by 400.6% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 796 shares of the company’s stock worth $114,000 after purchasing an additional 637 shares in the last quarter. Finally, Fort L.P. bought a new stake in shares of Estee Lauder Companies in the 2nd quarter worth approximately $116,000. 55.77% of the stock is currently owned by institutional investors and hedge funds.
In other Estee Lauder Companies news, EVP Michael O’hare sold 5,671 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $138.22, for a total value of $783,845.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane Lauder sold 36,334 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $133.23, for a total value of $4,840,778.82. Following the completion of the sale, the director now owns 45,037 shares of the company’s stock, valued at approximately $6,000,279.51. The disclosure for this sale can be found here. Insiders sold a total of 159,228 shares of company stock valued at $22,034,923 over the last 90 days. 16.13% of the stock is currently owned by company insiders.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.22 by $0.19. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.48 billion. Estee Lauder Companies had a return on equity of 38.29% and a net margin of 8.48%. Estee Lauder Companies’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Sell-side analysts expect that Estee Lauder Companies Inc will post 4.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.23%. This is a positive change from Estee Lauder Companies’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, November 29th. Estee Lauder Companies’s dividend payout ratio is 33.70%.
EL has been the topic of a number of analyst reports. Credit Suisse Group boosted their price target on Estee Lauder Companies from $156.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, November 1st. Piper Jaffray Companies set a $152.00 price objective on Estee Lauder Companies and gave the company a “buy” rating in a research report on Monday, October 22nd. Raymond James upped their price objective on Estee Lauder Companies from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Atlantic Securities began coverage on Estee Lauder Companies in a research report on Thursday, September 20th. They issued an “overweight” rating and a $162.00 price objective on the stock. Finally, JPMorgan Chase & Co. set a $154.00 price objective on Estee Lauder Companies and gave the company a “buy” rating in a research report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $146.98.
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Estee Lauder Companies Company 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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