Kornitzer Capital Management Inc. KS Sells 30,440 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Kornitzer Capital Management Inc. KS decreased its position in The Estée Lauder Companies Inc. (NYSE:EL) by 63.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,734 shares of the company’s stock after selling 30,440 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Estée Lauder Companies were worth $1,768,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EL. Malaga Cove Capital LLC grew its stake in shares of Estée Lauder Companies by 58.6% during the third quarter. Malaga Cove Capital LLC now owns 5,966 shares of the company’s stock worth $595,000 after purchasing an additional 2,205 shares during the period. Stoneridge Investment Partners LLC acquired a new position in shares of Estée Lauder Companies during the 3rd quarter worth about $2,426,000. Impax Asset Management Group plc grew its holdings in Estée Lauder Companies by 21.3% during the third quarter. Impax Asset Management Group plc now owns 83,498 shares of the company’s stock valued at $8,324,000 after purchasing an additional 14,688 shares during the period. Quintet Private Bank Europe S.A. grew its holdings in shares of Estée Lauder Companies by 11.5% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 230,731 shares of the company’s stock valued at $23,002,000 after buying an additional 23,833 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Estée Lauder Companies by 14.5% during the third quarter. QRG Capital Management Inc. now owns 16,017 shares of the company’s stock worth $1,597,000 after acquiring an additional 2,025 shares in the last quarter. Institutional investors and hedge funds own 55.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Lynn Forester sold 3,890 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $93.61, for a total value of $364,142.90. Following the sale, the director now owns 15,209 shares in the company, valued at approximately $1,423,714.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $93.61, for a total value of $364,142.90. Following the transaction, the director now directly owns 15,209 shares in the company, valued at $1,423,714.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fabrizio Freda sold 10,969 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $67.76, for a total transaction of $743,259.44. Following the sale, the chief executive officer now owns 295,838 shares of the company’s stock, valued at approximately $20,045,982.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,296 shares of company stock valued at $1,423,366. 12.78% of the stock is owned by insiders.

Estée Lauder Companies Stock Performance

NYSE EL opened at $63.89 on Friday. The firm has a market capitalization of $22.92 billion, a P/E ratio of 114.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.05. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm’s fifty day moving average price is $87.37 and its two-hundred day moving average price is $103.74. The Estée Lauder Companies Inc. has a 1 year low of $62.88 and a 1 year high of $159.75.

Estée Lauder Companies (NYSE:EL) last issued its earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the firm earned $0.11 EPS. Estée Lauder Companies’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that The Estée Lauder Companies Inc. will post 2 EPS for the current year.

Estée Lauder Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 2.19%. Estée Lauder Companies’s dividend payout ratio is currently 471.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EL shares. Royal Bank of Canada lowered their price target on Estée Lauder Companies from $131.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler raised their target price on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company lowered shares of Estée Lauder Companies from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $105.00 to $72.00 in a research note on Thursday, October 31st. StockNews.com downgraded shares of Estée Lauder Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley cut their price objective on shares of Estée Lauder Companies from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Nineteen analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.90.

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, and powders, as well as compacts, brushes, and other makeup tools.