Norway Savings Bank increased its position in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 1.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,063 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Norway Savings Bank’s holdings in Estée Lauder Companies were worth $1,818,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of EL. Verition Fund Management LLC acquired a new position in shares of Estée Lauder Companies during the first quarter valued at $393,000. Voloridge Investment Management LLC acquired a new position in shares of Estée Lauder Companies during the first quarter valued at $518,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Estée Lauder Companies by 15.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,669 shares of the company’s stock valued at $1,939,000 after acquiring an additional 904 shares during the period. Stonnington Group LLC acquired a new position in Estée Lauder Companies in the first quarter valued at about $603,000. Finally, Childress Capital Advisors LLC lifted its stake in Estée Lauder Companies by 87.3% in the first quarter. Childress Capital Advisors LLC now owns 811 shares of the company’s stock valued at $235,000 after buying an additional 378 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on EL shares. Telsey Advisory Group increased their target price on Estée Lauder Companies from $355.00 to $377.00 and gave the company an “outperform” rating in a research note on Friday, August 20th. Raymond James increased their target price on Estée Lauder Companies from $375.00 to $390.00 and gave the company a “strong-buy” rating in a research note on Wednesday, November 3rd. Morgan Stanley increased their target price on Estée Lauder Companies from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, August 23rd. Bank of America initiated coverage on Estée Lauder Companies in a research note on Tuesday, October 5th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus raised their price target on Estée Lauder Companies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 20th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Estée Lauder Companies has an average rating of “Buy” and an average price target of $347.18.
Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Tuesday, November 2nd. The company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.22. Estée Lauder Companies had a return on equity of 43.78% and a net margin of 17.83%. During the same period in the prior year, the business earned $1.44 earnings per share. On average, equities research analysts anticipate that The Estée Lauder Companies Inc. will post 7.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th will be paid a dividend of $0.60 per share. This is an increase from Estée Lauder Companies’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, November 29th. Estée Lauder Companies’s payout ratio is currently 25.70%.
In related news, Vice Chairman Sara E. Moss sold 3,451 shares of Estée Lauder Companies stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $342.56, for a total transaction of $1,182,174.56. Following the completion of the sale, the insider now directly owns 8,099 shares of the company’s stock, valued at approximately $2,774,393.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Fabrizio Freda sold 10,432 shares of Estée Lauder Companies stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $317.04, for a total value of $3,307,361.28. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,964 shares of company stock valued at $714,739,430 over the last quarter. 12.91% of the stock is currently owned by corporate insiders.
About Estée Lauder Companies
The Estée Lauder Companies, Inc engages in the manufacture of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MAC, Bobbi Brown, La Mer, Jo Malone London, Aveda and Too Faced. Its channels consist of department stores, multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas.
Recommended Story: The limitations of an equal weight rating
Want to see what other hedge funds are holding EL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Estée Lauder Companies Inc. (NYSE:EL).
Receive News & Ratings for Estée Lauder Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Estée Lauder Companies and related companies with MarketBeat.com's FREE daily email newsletter.