Sheets Smith Wealth Management raised its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,867 shares of the company’s stock after buying an additional 100 shares during the quarter. Estee Lauder Companies comprises about 1.4% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 13th biggest position. Sheets Smith Wealth Management’s holdings in Estee Lauder Companies were worth $6,434,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in EL. Machina Capital S.A.S. purchased a new position in Estee Lauder Companies in the fourth quarter valued at about $30,000. Trust Co. of Vermont raised its position in Estee Lauder Companies by 112.1% in the first quarter. Trust Co. of Vermont now owns 263 shares of the company’s stock valued at $44,000 after purchasing an additional 139 shares during the period. Motco raised its position in Estee Lauder Companies by 45.8% in the first quarter. Motco now owns 277 shares of the company’s stock valued at $46,000 after purchasing an additional 87 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in shares of Estee Lauder Companies during the first quarter worth about $50,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Estee Lauder Companies by 6,015.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,896,861 shares of the company’s stock worth $53,000 after acquiring an additional 6,784,090 shares during the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.
A number of analysts have recently issued reports on EL shares. Macquarie lifted their target price on Estee Lauder Companies from $170.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised Estee Lauder Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $175.00 in a research report on Thursday, March 7th. Credit Suisse Group lifted their target price on Estee Lauder Companies from $175.00 to $185.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their price target on Estee Lauder Companies from $166.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, UBS Group lifted their price target on Estee Lauder Companies from $153.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $170.82.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.25. Estee Lauder Companies had a net margin of 12.45% and a return on equity of 43.52%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the company posted $1.17 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that Estee Lauder Companies Inc will post 5.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Thursday, May 30th. Estee Lauder Companies’s dividend payout ratio is currently 38.14%.
In related news, Director Lynn Forester sold 10,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $172.48, for a total value of $1,724,800.00. Following the completion of the sale, the director now directly owns 14,000 shares in the company, valued at $2,414,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Irvine O. Hockaday, Jr. sold 15,949 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $170.55, for a total transaction of $2,720,101.95. Following the completion of the sale, the director now owns 16,446 shares of the company’s stock, valued at $2,804,865.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,036,232 shares of company stock worth $505,105,319. 16.13% of the stock is currently owned by corporate insiders.
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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