Victory Capital Management Inc. Acquires 2,381 Shares of Estee Lauder Companies Inc (EL)
Victory Capital Management Inc. lifted its holdings in shares of Estee Lauder Companies Inc (NYSE:EL) by 8.6% in the third quarter, HoldingsChannel reports. The firm owned 30,187 shares of the company’s stock after acquiring an additional 2,381 shares during the period. Victory Capital Management Inc.’s holdings in Estee Lauder Companies were worth $4,387,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Fundsmith Equity Fund L.P. purchased a new stake in Estee Lauder Companies in the 2nd quarter worth approximately $701,543,000. Millennium Management LLC grew its stake in Estee Lauder Companies by 212.5% in the 2nd quarter. Millennium Management LLC now owns 1,120,085 shares of the company’s stock worth $159,825,000 after acquiring an additional 761,655 shares during the period. Nomura Holdings Inc. grew its stake in Estee Lauder Companies by 101.1% in the 2nd quarter. Nomura Holdings Inc. now owns 5,635 shares of the company’s stock worth $804,000 after acquiring an additional 528,060 shares during the period. Wells Fargo & Company MN grew its stake in Estee Lauder Companies by 15.2% in the 2nd quarter. Wells Fargo & Company MN now owns 3,172,974 shares of the company’s stock worth $452,750,000 after acquiring an additional 418,055 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Estee Lauder Companies by 777,412.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 373,206 shares of the company’s stock worth $1,056,000 after acquiring an additional 373,158 shares during the period. 57.29% of the stock is owned by institutional investors and hedge funds.
EL opened at $142.02 on Wednesday. The stock has a market capitalization of $51.84 billion, a PE ratio of 31.49, a P/E/G ratio of 2.48 and a beta of 0.66. Estee Lauder Companies Inc has a 1-year low of $121.93 and a 1-year high of $158.80. The company has a quick ratio of 1.28, a current ratio of 1.75 and a debt-to-equity ratio of 0.76.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a $0.43 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.21%. This is an increase from Estee Lauder Companies’s previous quarterly dividend of $0.38. Estee Lauder Companies’s payout ratio is presently 33.70%.
In related news, major shareholder Ronald S. Foundation Lauder sold 15,000 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $142.73, for a total transaction of $2,140,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Irvine O. Hockaday, Jr. sold 1,700 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $137.57, for a total transaction of $233,869.00. Following the sale, the director now directly owns 15,040 shares of the company’s stock, valued at approximately $2,069,052.80. The disclosure for this sale can be found here. Insiders sold a total of 341,907 shares of company stock valued at $48,330,233 in the last three months. Insiders own 16.13% of the company’s stock.
Several research firms have commented on EL. Zacks Investment Research cut shares of Estee Lauder Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, October 1st. JPMorgan Chase & Co. set a $154.00 price target on shares of Estee Lauder Companies and gave the company a “buy” rating in a report on Tuesday, August 21st. DA Davidson upgraded shares of Estee Lauder Companies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $134.00 to $167.00 in a report on Tuesday, August 21st. Piper Jaffray Companies set a $156.00 price target on shares of Estee Lauder Companies and gave the company an “overweight” rating in a report on Tuesday, August 21st. Finally, Raymond James lifted their price target on shares of Estee Lauder Companies from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $146.77.
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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