Kentucky Retirement Systems Insurance Trust Fund Sells 617 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of The Estée Lauder Companies Inc. (NYSE:EL) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,899 shares of the company’s stock after selling 617 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Estée Lauder Companies were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mizuho Markets Americas LLC bought a new stake in Estée Lauder Companies during the 3rd quarter valued at $8,405,000. Empowered Funds LLC grew its stake in shares of Estée Lauder Companies by 7.5% in the 3rd quarter. Empowered Funds LLC now owns 3,434 shares of the company’s stock worth $342,000 after acquiring an additional 241 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Estée Lauder Companies by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 8,001 shares of the company’s stock worth $798,000 after acquiring an additional 179 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Estée Lauder Companies in the 3rd quarter worth $848,000. Finally, CIBC Asset Management Inc grew its stake in shares of Estée Lauder Companies by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 38,953 shares of the company’s stock worth $3,883,000 after acquiring an additional 2,299 shares in the last quarter. Institutional investors own 55.15% of the company’s stock.

Insider Buying and Selling

In other Estée Lauder Companies news, Director Lynn Forester sold 3,890 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $93.61, for a total transaction of $364,142.90. Following the transaction, the director now directly owns 15,209 shares in the company, valued at $1,423,714.49. This trade represents a 20.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charlene Barshefsky sold 3,437 shares of the stock in a transaction that occurred 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 transaction, the director now owns 49,800 shares in the company, valued at $4,578,114. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,296 shares of company stock worth $1,423,366. Insiders own 12.78% of the company’s stock.

Estée Lauder Companies Trading Up 1.3 %

Shares of EL opened at $64.59 on Tuesday. The business’s 50-day moving average price is $84.21 and its 200-day moving average price is $99.84. The Estée Lauder Companies Inc. has a twelve month low of $62.29 and a twelve month high of $159.75. The stock has a market cap of $23.19 billion, a PE ratio of 115.34, a P/E/G ratio of 3.85 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 1.44.

Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. Estée Lauder Companies’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. On average, equities analysts forecast that The Estée Lauder Companies Inc. will post 1.59 EPS for the current fiscal year.

Estée Lauder Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, November 29th. Estée Lauder Companies’s dividend payout ratio (DPR) is 250.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on EL. JPMorgan Chase & Co. lowered shares of Estée Lauder Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $113.00 to $74.00 in a research note on Friday, November 1st. Piper Sandler boosted their price target 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. Telsey Advisory Group reissued a “market perform” rating and issued a $105.00 price target on shares of Estée Lauder Companies in a report on Thursday, October 31st. HSBC downgraded shares of Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Wednesday, October 16th. Finally, B. Riley cut their price target on shares of Estée Lauder Companies from $95.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Nineteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average 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.