Coty Inc. (COTY) Lowered to Hold at Zacks Investment Research
Coty Inc. (NYSE:COTY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
COTY has been the subject of several other reports. B. Riley reissued a “sell” rating and issued a $19.50 price target on shares of Coty in a research report on Wednesday, June 15th. Barclays PLC reissued a “hold” rating on shares of Coty in a research report on Saturday, July 9th. Deutsche Bank AG restated a “buy” rating and set a $32.00 target price on shares of Coty in a research note on Thursday, August 18th. Berenberg Bank began coverage on Coty in a research note on Friday, September 9th. They set a “sell” rating and a $23.00 target price on the stock. Finally, Citigroup Inc. boosted their target price on Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.05.
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Coty (NYSE:COTY) traded down 1.00% on Wednesday, hitting $23.85. The stock had a trading volume of 22,293,319 shares. Coty has a 52-week low of $21.48 and a 52-week high of $31.60. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 54.20 and a beta of 0.37. The company has a 50 day moving average price of $26.77 and a 200-day moving average price of $27.15.
Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.07. The firm earned $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Coty had a return on equity of 80.72% and a net margin of 3.61%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, equities research analysts predict that Coty will post $1.09 earnings per share for the current year.
In related news, major shareholder Cosmetics B.V. Jab acquired 225,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $26.94 per share, with a total value of $6,061,500.00. Following the acquisition, the insider now directly owns 6,469,861 shares in the company, valued at approximately $174,298,055.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Sebastien Froidefond sold 3,983 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $27.02, for a total value of $107,620.66. Following the completion of the transaction, the senior vice president now directly owns 20,862 shares of the company’s stock, valued at approximately $563,691.24. The disclosure for this sale can be found here. 12.40% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock worth $124,000 after buying an additional 207 shares during the last quarter. Wellington Management Group LLP boosted its position in Coty by 2,270.5% in the first quarter. Wellington Management Group LLP now owns 7,599,442 shares of the company’s stock worth $211,492,000 after buying an additional 7,278,863 shares during the last quarter. BlackRock Inc. boosted its position in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock worth $242,000 after buying an additional 6,649 shares during the last quarter. EFG Asset Management Americas Corp. boosted its position in Coty by 35.0% in the first quarter. EFG Asset Management Americas Corp. now owns 144,705 shares of the company’s stock worth $4,091,000 after buying an additional 37,524 shares during the last quarter. Finally, TD Asset Management Inc. acquired a new position in Coty during the second quarter worth $1,134,000. 17.44% of the stock is owned by institutional investors.
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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