State Board of Administration of Florida Retirement System lessened its holdings in Estee Lauder Companies Inc (NYSE:EL) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,362 shares of the company’s stock after selling 856 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Estee Lauder Companies worth $57,616,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of EL. AXA boosted its position in Estee Lauder Companies by 17.0% during the first quarter. AXA now owns 449,577 shares of the company’s stock valued at $71,636,000 after purchasing an additional 65,446 shares during the last quarter. Horan Securities Inc. acquired a new stake in Estee Lauder Companies during the first quarter valued at $54,000. Vident Investment Advisory LLC acquired a new stake in Estee Lauder Companies during the first quarter valued at $294,000. Lord Abbett & CO. LLC boosted its position in Estee Lauder Companies by 358.3% during the first quarter. Lord Abbett & CO. LLC now owns 393,557 shares of the company’s stock valued at $62,709,000 after purchasing an additional 307,679 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Estee Lauder Companies during the first quarter valued at $442,000. 55.58% of the stock is owned by institutional investors and hedge funds.
EL has been the subject of a number of research reports. Oppenheimer raised Estee Lauder Companies from a “market perform” rating to an “outperform” rating and set a $240.00 price objective for the company in a research report on Thursday, August 13th. Barclays boosted their price target on Estee Lauder Companies from $180.00 to $198.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Credit Suisse Group boosted their price target on Estee Lauder Companies from $187.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Zacks Investment Research raised Estee Lauder Companies from a “sell” rating to a “hold” rating and set a $222.00 price target for the company in a research report on Friday, August 14th. Finally, Piper Sandler raised Estee Lauder Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $158.00 to $238.00 in a research report on Monday, June 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $203.40.
EL traded down $14.65 on Thursday, hitting $197.85. 141,471 shares of the stock traded hands, compared to its average volume of 1,064,052. Estee Lauder Companies Inc has a 52 week low of $137.01 and a 52 week high of $220.42. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $76.78 billion, a PE ratio of 55.64, a P/E/G ratio of 4.29 and a beta of 0.78. The business has a fifty day moving average price of $197.12 and a two-hundred day moving average price of $185.80.
Estee Lauder Companies (NYSE:EL) last released its quarterly earnings data on Thursday, August 20th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.34). The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.45 billion. Estee Lauder Companies had a net margin of 8.43% and a return on equity of 43.18%. The firm’s revenue for the quarter was down 32.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that Estee Lauder Companies Inc will post 4.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.97%.
In other news, insider Hudis Jane Hertzmark sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $200.72, for a total value of $1,003,600.00. Also, CFO Tracey Thomas Travis sold 44,862 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $207.00, for a total value of $9,286,434.00. Following the completion of the transaction, the chief financial officer now directly owns 76,201 shares in the company, valued at $15,773,607. The disclosure for this sale can be found here. Insiders have sold 54,595 shares of company stock worth $11,235,932 over the last ninety days. Company insiders own 14.68% of the company’s stock.
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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