Wellington Management Group LLP lessened its stake in Estee Lauder Companies Inc (NYSE:EL) by 80.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,481 shares of the company’s stock after selling 5,913 shares during the quarter. Wellington Management Group LLP’s holdings in Estee Lauder Companies were worth $236,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FDx Advisors Inc. bought a new stake in Estee Lauder Companies in the first quarter valued at about $26,000. Efficient Wealth Management LLC bought a new stake in Estee Lauder Companies in the first quarter valued at about $27,000. Tradewinds Capital Management LLC bought a new stake in Estee Lauder Companies in the first quarter valued at about $35,000. NuWave Investment Management LLC increased its holdings in Estee Lauder Companies by 1,215.8% in the first quarter. NuWave Investment Management LLC now owns 250 shares of the company’s stock valued at $40,000 after purchasing an additional 231 shares during the last quarter. Finally, Kessler Investment Group LLC bought a new stake in Estee Lauder Companies in the first quarter valued at about $44,000. Institutional investors and hedge funds own 55.73% of the company’s stock.
Shares of EL opened at $188.68 on Wednesday. The company has a market cap of $66.29 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 4.29 and a beta of 0.79. Estee Lauder Companies Inc has a 1-year low of $137.01 and a 1-year high of $220.42. The company’s fifty day simple moving average is $188.17 and its 200 day simple moving average is $188.49. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.60.
Estee Lauder Companies (NYSE:EL) last issued its earnings results on Friday, May 1st. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.12. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.10 billion. Estee Lauder Companies had a net margin of 8.43% and a return on equity of 43.18%. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, research analysts forecast that Estee Lauder Companies Inc will post 4.46 earnings per share for the current year.
In other Estee Lauder Companies news, EVP Alexandra C. Trower sold 5,500 shares of Estee Lauder Companies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $163.08, for a total transaction of $896,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hudis Jane Hertzmark sold 12,601 shares of Estee Lauder Companies stock in a transaction on Monday, May 18th. The stock was sold at an average price of $174.15, for a total transaction of $2,194,464.15. Following the transaction, the insider now directly owns 43,329 shares of the company’s stock, valued at $7,545,745.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,430 shares of company stock worth $11,143,837. 14.68% of the stock is owned by corporate insiders.
EL has been the subject of a number of research analyst reports. Raymond James boosted their target price on Estee Lauder Companies from $188.00 to $207.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Goldman Sachs Group reissued a “sell” rating and issued a $135.00 target price (down from $175.00) on shares of Estee Lauder Companies in a research note on Thursday, March 19th. Jefferies Financial Group decreased their target price on Estee Lauder Companies from $190.00 to $170.00 in a research note on Wednesday, March 11th. JPMorgan Chase & Co. boosted their target price on Estee Lauder Companies from $145.00 to $150.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Finally, Piper Sandler raised Estee Lauder Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $158.00 to $238.00 in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $193.86.
About Estee Lauder Companies
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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