Meiji Yasuda Life Insurance Co cut its stake in shares of Estee Lauder Companies Inc (NYSE:EL) by 10.9% in the first quarter, HoldingsChannel.com reports. The fund owned 9,460 shares of the company’s stock after selling 1,156 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Estee Lauder Companies were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in Estee Lauder Companies by 6,015.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,896,861 shares of the company’s stock worth $53,000 after purchasing an additional 6,784,090 shares during the period. Norges Bank bought a new position in shares of Estee Lauder Companies during the 4th quarter valued at approximately $233,786,000. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of Estee Lauder Companies by 673,732.9% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,125,301 shares of the company’s stock valued at $146,401,000 after acquiring an additional 1,125,134 shares during the last quarter. Millennium Management LLC boosted its position in shares of Estee Lauder Companies by 445.1% during the 4th quarter. Millennium Management LLC now owns 809,688 shares of the company’s stock valued at $105,340,000 after acquiring an additional 661,151 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its position in shares of Estee Lauder Companies by 44.4% during the 4th quarter. Standard Life Aberdeen plc now owns 1,473,435 shares of the company’s stock valued at $189,285,000 after acquiring an additional 453,075 shares during the last quarter. Institutional investors own 54.29% of the company’s stock.
NYSE:EL traded down $0.24 during midday trading on Wednesday, hitting $177.25. 31,539 shares of the company traded hands, compared to its average volume of 1,810,868. Estee Lauder Companies Inc has a 12-month low of $121.47 and a 12-month high of $180.20. The firm has a market capitalization of $63.71 billion, a PE ratio of 39.25, a PEG ratio of 2.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.26 and a current ratio of 1.69.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.72 annualized dividend and a yield of 0.97%. Estee Lauder Companies’s payout ratio is presently 38.14%.
In other Estee Lauder Companies news, CEO Fabrizio Freda sold 33,719 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $164.42, for a total value of $5,544,077.98. Following the sale, the chief executive officer now owns 101,893 shares in the company, valued at $16,753,247.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Zinterhofer Aerin Lauder Trust sold 2,800,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $166.21, for a total value of $465,388,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,064,268 shares of company stock worth $509,731,259 in the last 90 days. 16.13% of the stock is currently owned by insiders.
A number of research analysts have recently commented on EL shares. Argus increased their target price on Estee Lauder Companies to $195.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Stifel Nicolaus increased their target price on Estee Lauder Companies from $157.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Citigroup increased their target price on Estee Lauder Companies from $179.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Co increased their target price on Estee Lauder Companies from $142.00 to $155.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets increased their target price on Estee Lauder Companies from $155.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $170.82.
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Estee Lauder Companies Company Profile
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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