Shellback Capital LP Cuts Stock Position in The Estée Lauder Companies Inc. (NYSE:EL)

Shellback Capital LP lowered its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 66.7% in the second quarter, HoldingsChannel reports. The firm owned 40,000 shares of the company’s stock after selling 80,000 shares during the quarter. Shellback Capital LP’s holdings in Estée Lauder Companies were worth $4,256,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Armistice Capital LLC grew its stake in shares of Estée Lauder Companies by 111.8% in the second quarter. Armistice Capital LLC now owns 182,312 shares of the company’s stock worth $19,398,000 after acquiring an additional 96,239 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Estée Lauder Companies by 113.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 156,583 shares of the company’s stock valued at $22,900,000 after purchasing an additional 83,320 shares in the last quarter. BNP Paribas purchased a new position in shares of Estée Lauder Companies in the 1st quarter valued at about $997,000. Marshall Wace LLP grew its position in shares of Estée Lauder Companies by 3,065.6% during the second quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock worth $211,000,000 after buying an additional 1,920,439 shares in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new stake in shares of Estée Lauder Companies during the second quarter worth approximately $558,000. 55.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Lynn Forester sold 3,890 shares of Estée Lauder Companies stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total transaction of $364,142.90. Following the completion of the transaction, the director now directly owns 15,209 shares in the company, valued at approximately $1,423,714.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of Estée Lauder Companies stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the transaction, the director now owns 49,800 shares in the company, valued at approximately $4,578,114. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lynn Forester sold 3,890 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total value of $364,142.90. Following the sale, the director now owns 15,209 shares of the company’s stock, valued at $1,423,714.49. The disclosure for this sale can be found here. Insiders own 12.77% of the company’s stock.

Estée Lauder Companies Stock Up 10.0 %

Shares of Estée Lauder Companies stock opened at $100.78 on Friday. The Estée Lauder Companies Inc. has a one year low of $82.39 and a one year high of $159.75. The company has a market cap of $36.14 billion, a P/E ratio of 56.62, a PEG ratio of 1.46 and a beta of 1.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a fifty day moving average of $92.35 and a two-hundred day moving average of $116.63.

Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Monday, August 19th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.39. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. Estée Lauder Companies had a net margin of 2.50% and a return on equity of 16.91%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 earnings per share. On average, analysts forecast that The Estée Lauder Companies Inc. will post 2.97 earnings per share for the current year.

Estée Lauder Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.66 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.64 annualized dividend and a dividend yield of 2.62%. Estée Lauder Companies’s dividend payout ratio is currently 148.31%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Estée Lauder Companies from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Raymond James cut Estée Lauder Companies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 22nd. Evercore ISI cut their target price on Estée Lauder Companies from $180.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Estée Lauder Companies from $108.00 to $105.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. Finally, B. Riley started coverage on shares of Estée Lauder Companies in a report on Tuesday, September 10th. They issued a “neutral” rating and a $95.00 target price for the company. Fourteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Estée Lauder Companies presently has a consensus rating of “Hold” and a consensus price target of $120.27.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.