Montag A & Associates Inc. reduced its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,413 shares of the company’s stock after selling 300 shares during the period. Montag A & Associates Inc.’s holdings in Estee Lauder Companies were worth $480,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Estee Lauder Companies by 2.0% during the second quarter. Vanguard Group Inc. now owns 17,300,612 shares of the company’s stock worth $3,167,915,000 after buying an additional 334,467 shares in the last quarter. Edgewood Management LLC grew its position in Estee Lauder Companies by 1.1% during the second quarter. Edgewood Management LLC now owns 6,896,949 shares of the company’s stock worth $1,262,900,000 after buying an additional 71,860 shares in the last quarter. Morgan Stanley grew its position in Estee Lauder Companies by 104.8% during the second quarter. Morgan Stanley now owns 3,750,994 shares of the company’s stock worth $686,843,000 after buying an additional 1,919,751 shares in the last quarter. Northern Trust Corp grew its position in Estee Lauder Companies by 0.6% during the second quarter. Northern Trust Corp now owns 3,700,121 shares of the company’s stock worth $677,530,000 after buying an additional 23,366 shares in the last quarter. Finally, Magellan Asset Management Ltd acquired a new stake in Estee Lauder Companies during the second quarter worth about $442,334,000. Institutional investors own 54.90% of the company’s stock.
Shares of NYSE:EL traded up $0.13 during trading on Friday, reaching $187.27. The stock had a trading volume of 915,389 shares, compared to its average volume of 1,704,993. Estee Lauder Companies Inc has a 52 week low of $121.47 and a 52 week high of $207.50. The business’s 50-day moving average price is $190.85 and its 200 day moving average price is $184.20. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 1.08. The stock has a market capitalization of $66.38 billion, a PE ratio of 35.07, a P/E/G ratio of 2.44 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Estee Lauder Companies’s previous quarterly dividend of $0.43. Estee Lauder Companies’s payout ratio is 32.21%.
In related news, CEO Fabrizio Freda sold 28,819 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 93,360 shares in the company, valued at approximately $19,279,773.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Sara E. Moss sold 6,274 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 2,214,755 shares of company stock valued at $434,929,789 in the last 90 days. 14.68% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on EL shares. Edward Jones downgraded Estee Lauder Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley reaffirmed a “buy” rating on shares of Estee Lauder Companies in a report on Friday, November 1st. ValuEngine downgraded Estee Lauder Companies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America reaffirmed a “buy” rating and set a $220.00 price objective (up from $205.00) on shares of Estee Lauder Companies in a report on Monday, August 19th. Finally, Raymond James reaffirmed an “outperform” rating and set a $202.00 price objective (down from $216.00) on shares of Estee Lauder Companies in a report on Friday, November 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Estee Lauder Companies currently has a consensus rating of “Buy” and an average target price of $194.96.
About Estee Lauder Companies
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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