First Republic Investment Management Inc. Boosts Position in Estee Lauder Companies, Inc. (The) (EL)
First Republic Investment Management Inc. increased its stake in Estee Lauder Companies, Inc. (The) (NYSE:EL) by 107.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,303 shares of the company’s stock after purchasing an additional 15,684 shares during the quarter. First Republic Investment Management Inc.’s holdings in Estee Lauder Companies were worth $3,268,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new position in shares of Estee Lauder Companies during the 3rd quarter valued at $664,432,000. Janus Henderson Group PLC grew its position in Estee Lauder Companies by 1,676.9% in the second quarter. Janus Henderson Group PLC now owns 4,695,498 shares of the company’s stock worth $450,675,000 after acquiring an additional 4,431,247 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Estee Lauder Companies in the second quarter worth $186,061,000. Northern Trust Corp grew its position in Estee Lauder Companies by 41.1% in the second quarter. Northern Trust Corp now owns 3,732,174 shares of the company’s stock worth $358,214,000 after acquiring an additional 1,086,562 shares in the last quarter. Finally, BlackRock Inc. grew its position in Estee Lauder Companies by 7.4% in the second quarter. BlackRock Inc. now owns 14,797,992 shares of the company’s stock worth $1,420,311,000 after acquiring an additional 1,022,956 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.
EL has been the subject of several recent research reports. Argus boosted their price target on shares of Estee Lauder Companies from $125.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Telsey Advisory Group boosted their price target on shares of Estee Lauder Companies from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 15th. Bank of America boosted their price target on shares of Estee Lauder Companies from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Sanford C. Bernstein reissued an “outperform” rating and issued a $117.00 price target on shares of Estee Lauder Companies in a research note on Tuesday, August 29th. Finally, Jefferies Group set a $140.00 price target on shares of Estee Lauder Companies and gave the stock a “buy” rating in a research note on Friday, December 1st. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $118.14.
Estee Lauder Companies (NYSE:EL) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.24. Estee Lauder Companies had a net margin of 11.30% and a return on equity of 33.64%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Estee Lauder Companies’s revenue was up 14.3% on a year-over-year basis. equities research analysts expect that Estee Lauder Companies, Inc. will post 4.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.38 dividend. This is an increase from Estee Lauder Companies’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 29th. Estee Lauder Companies’s dividend payout ratio is presently 41.08%.
In related news, insider 1992 Grat Remainder Trust Fbo sold 571,351 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $125.44, for a total value of $71,670,269.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carl P. Haney sold 6,941 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $123.19, for a total transaction of $855,061.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,526,646 shares of company stock valued at $190,321,370. 16.24% of the stock is owned by insiders.
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Estee Lauder Companies Company Profile
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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