Kornitzer Capital Management Inc. KS Has $1.77 Million Stock Holdings in The Estée Lauder Companies Inc. (NYSE:EL)

Kornitzer Capital Management Inc. KS reduced its holdings in The Estée Lauder Companies Inc. (NYSE:EL - Free Report) by 63.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in Estée Lauder Companies during the second quarter worth approximately $30,000. PARK CIRCLE Co bought a new position in Estée Lauder Companies during the second quarter valued at about $32,000. Kimelman & Baird LLC acquired a new position in Estée Lauder Companies during the second quarter worth about $32,000. Crewe Advisors LLC acquired a new stake in Estée Lauder Companies in the 1st quarter valued at about $35,000. Finally, Chilton Capital Management LLC grew its stake in shares of Estée Lauder Companies by 163.0% in the 1st quarter. Chilton Capital Management LLC now owns 263 shares of the company's stock worth $41,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 55.15% of the company's stock.

Estée Lauder Companies Stock Down 3.6 %

Estée Lauder Companies stock traded down $2.41 during mid-day trading on Friday, hitting $63.90. 5,676,920 shares of the company's stock were exchanged, compared to its average volume of 5,324,425. The Estée Lauder Companies Inc. has a 1-year low of $62.88 and a 1-year high of $159.75. The stock has a 50 day moving average of $87.37 and a two-hundred day moving average of $103.74. 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 stock has a market cap of $22.94 billion, a P/E ratio of 114.11, a P/E/G ratio of 3.82 and a beta of 1.05.

Estée Lauder Companies (NYSE:EL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.37 billion. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, analysts anticipate that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, November 29th. Estée Lauder Companies's dividend payout ratio is 250.00%.

Insider Buying and Selling at Estée Lauder Companies

In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $1,423,714.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the 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 completion of the sale, the director now directly owns 15,209 shares of the company's stock, valued at $1,423,714.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fabrizio Freda sold 10,969 shares of the business'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 transaction, the chief executive officer now owns 295,838 shares in the company, valued at approximately $20,045,982.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,296 shares of company stock worth $1,423,366 over the last ninety days. Company insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EL shares. Barclays dropped their price target on Estée Lauder Companies from $136.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, July 19th. Telsey Advisory Group reiterated a "market perform" rating and issued a $105.00 price target on shares of Estée Lauder Companies in a research report on Thursday, October 31st. Stifel Nicolaus lowered shares of Estée Lauder Companies from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Thursday, October 31st. Piper Sandler boosted their price target on shares of Estée Lauder Companies from $114.00 to $122.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Finally, Morgan Stanley decreased their price objective on shares of Estée Lauder Companies from $100.00 to $85.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Nineteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Estée Lauder Companies presently has an average rating of "Hold" and an average 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.