Parallel Advisors LLC Sells 390 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Parallel Advisors LLC cut its holdings in The Estée Lauder Companies Inc. (NYSE:EL) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 6,146 shares of the company’s stock after selling 390 shares during the quarter. Parallel Advisors LLC’s holdings in Estée Lauder Companies were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dai ichi Life Insurance Company Ltd grew its stake in Estée Lauder Companies by 30.4% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 1,931 shares of the company’s stock valued at $205,000 after acquiring an additional 450 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Estée Lauder Companies by 1,324.7% during the 2nd quarter. Federated Hermes Inc. now owns 17,738 shares of the company’s stock valued at $1,887,000 after purchasing an additional 16,493 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Estée Lauder Companies by 19.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,902 shares of the company’s stock valued at $734,000 after purchasing an additional 1,146 shares during the last quarter. Nuance Investments LLC purchased a new position in shares of Estée Lauder Companies during the second quarter valued at about $9,180,000. Finally, Thornburg Investment Management Inc. increased its holdings in shares of Estée Lauder Companies by 233.1% in the second quarter. Thornburg Investment Management Inc. now owns 223,002 shares of the company’s stock worth $23,728,000 after purchasing an additional 156,063 shares during the last quarter. 55.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EL. Stifel Nicolaus lowered their target price on Estée Lauder Companies from $165.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. The Goldman Sachs Group lowered their price objective on shares of Estée Lauder Companies from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company reduced their target price on shares of Estée Lauder Companies from $130.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. StockNews.com raised shares of Estée Lauder Companies from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Barclays reduced their price objective on Estée Lauder Companies from $136.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $120.27.

Insider Buying and Selling at Estée Lauder Companies

In related news, Director Charlene Barshefsky sold 3,437 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total value of $315,963.41. Following the completion of the sale, the director now owns 49,800 shares in the company, valued at approximately $4,578,114. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total transaction of $315,963.41. Following the completion of the transaction, the director now owns 49,800 shares in the company, valued at approximately $4,578,114. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Forester sold 3,890 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the completion of the sale, the director now owns 15,209 shares of the company’s stock, valued at approximately $1,423,714.49. The disclosure for this sale can be found here. 12.77% of the stock is owned by company insiders.

Estée Lauder Companies Stock Up 0.7 %

Shares of Estée Lauder Companies stock opened at $85.13 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 1.37. The Estée Lauder Companies Inc. has a 52-week low of $82.39 and a 52-week high of $159.75. The company has a market capitalization of $30.54 billion, a P/E ratio of 47.83, a P/E/G ratio of 1.42 and a beta of 1.00. The company has a 50 day moving average of $94.18 and a 200 day moving average of $119.45.

Estée Lauder Companies (NYSE:EL) last released its quarterly earnings data on Monday, August 19th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.39. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. Estée Lauder Companies had a return on equity of 16.91% and a net margin of 2.50%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. As a group, research analysts forecast that The Estée Lauder Companies Inc. will post 2.97 EPS for the current fiscal year.

Estée Lauder Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, August 30th. Estée Lauder Companies’s dividend payout ratio (DPR) is 148.32%.

About Estée Lauder Companies

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.