Sheets Smith Wealth Management Lowers Stock Position in The Estée Lauder Companies Inc. (NYSE:EL)

January 13th, 2021 - By Renee Jackson - Comments Off

Sheets Smith Wealth Management cut its position in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 24,217 shares of the company’s stock after selling 1,000 shares during the quarter. The Estée Lauder Companies makes up approximately 1.0% of Sheets Smith Wealth Management’s holdings, making the stock its 24th largest holding. Sheets Smith Wealth Management’s holdings in The Estée Lauder Companies were worth $6,446,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in EL. People s United Financial Inc. boosted its position in The Estée Lauder Companies by 1.7% in the third quarter. People s United Financial Inc. now owns 2,872 shares of the company’s stock worth $627,000 after purchasing an additional 47 shares during the last quarter. Asset Dedication LLC raised its stake in shares of The Estée Lauder Companies by 9.6% during the 2nd quarter. Asset Dedication LLC now owns 559 shares of the company’s stock worth $106,000 after purchasing an additional 49 shares during the period. Arjuna Capital boosted its holdings in shares of The Estée Lauder Companies by 2.7% in the 3rd quarter. Arjuna Capital now owns 1,853 shares of the company’s stock worth $404,000 after buying an additional 49 shares during the last quarter. Quest Capital Management Inc. ADV grew its position in The Estée Lauder Companies by 2.0% during the third quarter. Quest Capital Management Inc. ADV now owns 2,541 shares of the company’s stock valued at $554,000 after buying an additional 50 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its holdings in The Estée Lauder Companies by 3.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 1,863 shares of the company’s stock worth $407,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 48.71% of the company’s stock.

In related news, Chairman William P. Lauder sold 8,006 shares of the company’s stock in a transaction on Friday, November 20th. The shares were sold at an average price of $240.86, for a total transaction of $1,928,325.16. Following the completion of the sale, the chairman now directly owns 842 shares in the company, valued at approximately $202,804.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lal Family Partners Lp sold 2,000,000 shares of the stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $244.06, for a total transaction of $488,120,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,271,589 shares of company stock valued at $555,339,595. 13.95% of the stock is currently owned by corporate insiders.

EL has been the subject of several research analyst reports. Smith Barney Citigroup raised their price target on shares of The Estée Lauder Companies from $239.00 to $258.00 in a research note on Monday, December 28th. Oppenheimer raised their target price on The Estée Lauder Companies from $240.00 to $250.00 in a research report on Tuesday, October 27th. DA Davidson upped their price target on The Estée Lauder Companies from $231.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Royal Bank of Canada lifted their price objective on The Estée Lauder Companies from $258.00 to $271.00 and gave the stock an “outperform” rating in a report on Tuesday, December 15th. Finally, The Goldman Sachs Group raised shares of The Estée Lauder Companies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $231.00 in a report on Monday, September 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $238.57.

EL traded up $1.25 during trading on Wednesday, reaching $256.66. The stock had a trading volume of 1,178,107 shares, compared to its average volume of 1,219,926. The business has a 50-day moving average of $253.92 and a 200-day moving average of $224.15. The Estée Lauder Companies Inc. has a one year low of $137.01 and a one year high of $267.20. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.39 and a current ratio of 1.85. The stock has a market cap of $92.81 billion, a PE ratio of 155.74, a PEG ratio of 3.87 and a beta of 0.85.

The Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Saturday, November 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.54. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The Estée Lauder Companies had a net margin of 4.38% and a return on equity of 32.72%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the business earned $1.67 earnings per share. Equities research analysts forecast that The Estée Lauder Companies Inc. will post 5.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, November 27th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. This is an increase from The Estée Lauder Companies’s previous quarterly dividend of $0.48. The Estée Lauder Companies’s payout ratio is currently 51.46%.

About The Estée Lauder Companies

The EstÃ©e Lauder Companies Inc manufactures and markets skin care, makeup, fragrance, and hair care products. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.

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Sheets Smith Wealth Management Lowers Stock Position in The Estée Lauder Companies Inc. (NYSE:EL)