Parsec Financial Management Inc. Sells 40,488 Shares of Estee Lauder Companies Inc (EL)

Parsec Financial Management Inc. reduced its position in Estee Lauder Companies Inc (NYSE:EL) by 83.8% in the 3rd quarter, Holdings Channel reports. The firm owned 7,836 shares of the company’s stock after selling 40,488 shares during the quarter. Parsec Financial Management Inc.’s holdings in Estee Lauder Companies were worth $1,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Acropolis Investment Management LLC increased its stake in shares of Estee Lauder Companies by 4.6% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,137 shares of the company’s stock worth $1,182,000 after acquiring an additional 360 shares during the last quarter. Brookmont Capital Management increased its stake in shares of Estee Lauder Companies by 12.1% in the 2nd quarter. Brookmont Capital Management now owns 3,369 shares of the company’s stock worth $481,000 after acquiring an additional 363 shares during the last quarter. Osborn Williams & Donohoe LLC increased its stake in shares of Estee Lauder Companies by 2.3% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 16,135 shares of the company’s stock worth $2,302,000 after acquiring an additional 368 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Estee Lauder Companies by 11.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,875 shares of the company’s stock worth $553,000 after acquiring an additional 390 shares during the last quarter. Finally, Norway Savings Bank increased its stake in shares of Estee Lauder Companies by 20.7% in the 3rd quarter. Norway Savings Bank now owns 2,363 shares of the company’s stock worth $343,000 after acquiring an additional 405 shares during the last quarter. 55.95% of the stock is owned by hedge funds and other institutional investors.

Shares of Estee Lauder Companies stock opened at $131.22 on Wednesday. Estee Lauder Companies Inc has a 12 month low of $110.52 and a 12 month high of $158.80. The stock has a market cap of $46.13 billion, a P/E ratio of 29.10, a PEG ratio of 2.25 and a beta of 0.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.37.

Estee Lauder Companies (NYSE:EL) last announced its earnings results on Monday, August 20th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Estee Lauder Companies had a return on equity of 36.09% and a net margin of 8.10%. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the business posted $0.51 EPS. Estee Lauder Companies’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Estee Lauder Companies Inc will post 4.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.31%. This is a boost from Estee Lauder Companies’s previous quarterly dividend of $0.38. Estee Lauder Companies’s dividend payout ratio (DPR) is 33.70%.

A number of research firms have recently weighed in on EL. Wells Fargo & Co lowered their price target on Estee Lauder Companies from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 17th. Morgan Stanley upgraded Estee Lauder Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $159.00 to $160.00 in a report on Tuesday, August 28th. Citigroup lowered their price target on Estee Lauder Companies to $149.00 and set a “neutral” rating for the company in a report on Tuesday, October 23rd. Zacks Investment Research cut Estee Lauder Companies from a “hold” rating to a “strong sell” rating in a report on Monday, October 1st. Finally, Deutsche Bank lowered their price target on Estee Lauder Companies to $159.00 and set a “buy” rating for the company in a report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Estee Lauder Companies currently has a consensus rating of “Buy” and a consensus target price of $145.87.

In related news, major shareholder Ronald S. Foundation Lauder sold 15,700 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $139.32, for a total transaction of $2,187,324.00. Following the completion of the transaction, the insider now directly owns 82,671 shares in the company, valued at approximately $11,517,723.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jane Lauder sold 36,334 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $133.23, for a total value of $4,840,778.82. Following the transaction, the director now owns 45,037 shares of the company’s stock, valued at $6,000,279.51. The disclosure for this sale can be found here. Insiders have sold a total of 107,756 shares of company stock valued at $14,739,082 over the last 90 days. 16.13% of the stock is currently owned by company insiders.

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.

Read More: Book Value Per Share – BVPS

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

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