Handelsbanken Fonder AB cut its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 163,100 shares of the company’s stock after selling 3,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Estee Lauder Companies were worth $20,753,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Estee Lauder Companies by 6.4% during the 4th quarter. BlackRock Inc. now owns 15,790,395 shares of the company’s stock worth $2,009,170,000 after buying an additional 944,997 shares during the period. Jennison Associates LLC lifted its holdings in Estee Lauder Companies by 54.7% during the 4th quarter. Jennison Associates LLC now owns 9,533,553 shares of the company’s stock worth $1,213,049,000 after buying an additional 3,372,279 shares during the period. Wells Fargo & Company MN lifted its holdings in Estee Lauder Companies by 7.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,627,132 shares of the company’s stock worth $334,276,000 after buying an additional 190,584 shares during the period. Geode Capital Management LLC lifted its holdings in Estee Lauder Companies by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 2,426,219 shares of the company’s stock worth $308,079,000 after buying an additional 108,813 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Estee Lauder Companies by 31.9% during the 4th quarter. Acadian Asset Management LLC now owns 1,880,660 shares of the company’s stock worth $239,297,000 after buying an additional 454,532 shares during the period. 54.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Estee Lauder Companies Inc (EL) opened at $144.50 on Friday. Estee Lauder Companies Inc has a 12-month low of $83.34 and a 12-month high of $148.37. The company has a market capitalization of $53,743.11, a PE ratio of 50.17, a P/E/G ratio of 2.58 and a beta of 0.69. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.76 and a quick ratio of 1.33.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, February 27th. Estee Lauder Companies’s payout ratio is 52.78%.
Several research analysts have commented on the company. Credit Suisse Group assumed coverage on Estee Lauder Companies in a report on Monday, March 12th. They set an “outperform” rating and a $162.00 target price on the stock. Bank of America lifted their target price on Estee Lauder Companies from $152.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, March 5th. ValuEngine raised Estee Lauder Companies from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective (up from $145.00) on shares of Estee Lauder Companies in a research note on Tuesday, February 20th. Finally, Zacks Investment Research raised Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $132.87.
In other Estee Lauder Companies news, insider Fabrizio Freda sold 54,610 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $140.78, for a total transaction of $7,687,995.80. Following the completion of the sale, the insider now directly owns 127,784 shares of the company’s stock, valued at approximately $17,989,431.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Demsey sold 77,608 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $127.52, for a total value of $9,896,572.16. Following the sale, the insider now directly owns 23,305 shares of the company’s stock, valued at $2,971,853.60. The disclosure for this sale can be found here. Insiders sold a total of 248,453 shares of company stock valued at $33,517,643 over the last ninety days. 16.24% of the stock is currently owned by corporate insiders.
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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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