Meridian Wealth Management LLC purchased a new stake in The Estée Lauder Companies Inc. (NYSE:EL – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,081 shares of the company’s stock, valued at approximately $307,000.
Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Estée Lauder Companies by 79.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,723,746 shares of the company’s stock valued at $570,600,000 after purchasing an additional 2,533,006 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Estée Lauder Companies by 36.4% in the third quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company’s stock worth $402,938,000 after acquiring an additional 1,078,926 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Estée Lauder Companies by 44.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock valued at $368,788,000 after purchasing an additional 1,066,320 shares during the last quarter. Marshall Wace LLP boosted its holdings in Estée Lauder Companies by 3,065.6% in the second quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock valued at $211,000,000 after acquiring an additional 1,920,439 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Estée Lauder Companies by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,338,581 shares of the company’s stock worth $133,443,000 after purchasing an additional 35,364 shares during the period. 55.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Estée Lauder Companies
In other Estée Lauder Companies news, CEO Fabrizio Freda sold 10,969 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $67.76, for a total value of $743,259.44. Following the transaction, the chief executive officer now owns 295,838 shares of the company’s stock, valued at approximately $20,045,982.88. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Fribourg acquired 77,500 shares of Estée Lauder Companies stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $64.01 per share, with a total value of $4,960,775.00. Following the completion of the purchase, the director now owns 234,500 shares in the company, valued at approximately $15,010,345. This represents a 49.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.78% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Estée Lauder Companies
Estée Lauder Companies Stock Up 4.3 %
Estée Lauder Companies stock opened at $72.97 on Tuesday. The Estée Lauder Companies Inc. has a 52 week low of $62.29 and a 52 week high of $159.75. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 130.30, a PEG ratio of 4.22 and a beta of 1.05. The company’s 50-day moving average price is $82.54 and its two-hundred day moving average price is $97.63. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44.
Estée Lauder Companies (NYSE:EL – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, analysts expect that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.
Estée Lauder Companies Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Estée Lauder Companies’s dividend payout ratio (DPR) is 471.43%.
About Estée Lauder Companies
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, and powders, as well as compacts, brushes, and other makeup tools.
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