Skandinaviska Enskilda Banken AB publ Cuts Stake in The Estée Lauder Companies Inc. (NYSE:EL)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,201 shares of the company’s stock after selling 2,220 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in The Estée Lauder Companies were worth $19,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in shares of The Estée Lauder Companies by 17.5% in the first quarter. Jennison Associates LLC now owns 7,253,638 shares of the company’s stock valued at $2,109,721,000 after purchasing an additional 1,082,078 shares in the last quarter. Third Point LLC grew its holdings in shares of The Estée Lauder Companies by 382.5% in the first quarter. Third Point LLC now owns 965,000 shares of the company’s stock valued at $280,670,000 after purchasing an additional 765,000 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of The Estée Lauder Companies by 326.8% in the first quarter. Lord Abbett & CO. LLC now owns 898,315 shares of the company’s stock valued at $261,275,000 after purchasing an additional 687,818 shares in the last quarter. Amundi Asset Management US Inc. grew its holdings in shares of The Estée Lauder Companies by 117.7% in the first quarter. Amundi Asset Management US Inc. now owns 1,153,072 shares of the company’s stock valued at $335,369,000 after purchasing an additional 623,469 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of The Estée Lauder Companies by 15.7% in the first quarter. Royal Bank of Canada now owns 3,597,503 shares of the company’s stock valued at $1,046,333,000 after purchasing an additional 487,194 shares in the last quarter. 56.00% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Tracey Thomas Travis sold 26,792 shares of The Estée Lauder Companies stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $310.01, for a total transaction of $8,305,787.92. Following the completion of the sale, the chief financial officer now owns 58,131 shares of the company’s stock, valued at $18,021,191.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael O’hare sold 2,947 shares of The Estée Lauder Companies stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $343.18, for a total value of $1,011,351.46. Following the sale, the executive vice president now directly owns 6,916 shares of the company’s stock, valued at approximately $2,373,432.88. The disclosure for this sale can be found here. Insiders sold 360,567 shares of company stock worth $118,735,672 in the last quarter. 13.95% of the stock is owned by insiders.

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of The Estée Lauder Companies from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Monday, August 23rd. Evercore ISI raised their price target on The Estée Lauder Companies from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, August 20th. Wells Fargo & Company raised their price target on The Estée Lauder Companies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, August 20th. Societe Generale started coverage on The Estée Lauder Companies in a research report on Wednesday, July 14th. They issued a “hold” rating and a $335.00 price target for the company. Finally, Stifel Nicolaus raised their price target on The Estée Lauder Companies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $338.35.

EL opened at $330.82 on Wednesday. The business’s 50-day moving average is $330.17 and its two-hundred day moving average is $310.60. The Estée Lauder Companies Inc. has a 1 year low of $204.23 and a 1 year high of $347.82. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $119.52 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 3.94 and a beta of 0.94.

The Estée Lauder Companies (NYSE:EL) last posted its earnings results on Wednesday, August 18th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.28. The Estée Lauder Companies had a return on equity of 44.03% and a net margin of 17.70%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. The firm’s quarterly revenue was up 62.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Estée Lauder Companies Inc. will post 7.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, August 30th. This represents a $2.12 annualized dividend and a yield of 0.64%. The Estée Lauder Companies’s dividend payout ratio (DPR) is presently 32.87%.

The Estée Lauder Companies Company Profile

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.

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Institutional Ownership by Quarter for The Estée Lauder Companies (NYSE:EL)

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