Louisiana State Employees Retirement System lowered its holdings in Estee Lauder Companies Inc (NYSE:EL) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,600 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Estee Lauder Companies were worth $1,730,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Estee Lauder Companies by 126.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,135 shares of the company’s stock valued at $123,000 after purchasing an additional 633 shares during the last quarter. Sun Life Financial INC boosted its holdings in Estee Lauder Companies by 16,290.0% in the second quarter. Sun Life Financial INC now owns 1,639 shares of the company’s stock valued at $157,000 after purchasing an additional 1,629 shares during the last quarter. Zions Bancorporation boosted its holdings in Estee Lauder Companies by 2,781.3% in the third quarter. Zions Bancorporation now owns 1,844 shares of the company’s stock valued at $198,000 after purchasing an additional 1,780 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Estee Lauder Companies in the third quarter valued at about $209,000. Finally, Magnetar Financial LLC purchased a new position in Estee Lauder Companies in the third quarter valued at about $211,000. 53.65% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Alexandra C. Trower sold 25,446 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $120.39, for a total value of $3,063,443.94. Following the sale, the executive vice president now directly owns 7,732 shares in the company, valued at approximately $930,855.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider 1992 Grat Remainder Trust Fbo sold 570,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $125.53, for a total value of $71,552,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,566,381 shares of company stock worth $195,955,337. Company insiders own 16.24% of the company’s stock.
Estee Lauder Companies (NYSE:EL) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.24. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. Estee Lauder Companies had a return on equity of 33.64% and a net margin of 11.30%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. analysts forecast that Estee Lauder Companies Inc will post 4.18 earnings per share for the current year.
A number of research analysts have commented on EL shares. Deutsche Bank started coverage on Estee Lauder Companies in a report on Wednesday, December 13th. They set a “hold” rating and a $134.00 target price on the stock. Stifel Nicolaus increased their target price on Estee Lauder Companies from $114.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Citigroup increased their target price on Estee Lauder Companies from $111.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. KeyCorp reaffirmed an “overweight” rating and set a $135.00 target price (up previously from $115.00) on shares of Estee Lauder Companies in a report on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on Estee Lauder Companies from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Estee Lauder Companies has an average rating of “Buy” and an average target price of $117.67.
About Estee Lauder Companies
The Estee Lauder Companies Inc manufactures and markets skin care, makeup, fragrance and hair care products. The Company offers products, including skin care, makeup, fragrance, hair care and other. The Company operates in beauty products segment. The Company’s products are sold in over 150 countries and territories under brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frederic Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
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