Coty Inc. (COTY) Given Average Rating of “Hold” by Brokerages
Shares of Coty Inc. (NYSE:COTY) have been given a consensus recommendation of “Hold” by the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.04.
A number of equities analysts have weighed in on COTY shares. Berenberg Bank cut shares of Coty from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $17.50 to $15.00 in a research report on Wednesday, August 30th. Zacks Investment Research lowered shares of Coty from a “hold” rating to a “sell” rating in a report on Friday, August 25th. KeyCorp reaffirmed a “hold” rating on shares of Coty in a report on Friday, August 25th. Bank of America Corporation dropped their target price on shares of Coty from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Coty in a report on Wednesday, August 23rd.
In other Coty news, SVP Ayesha Zafar purchased 21,570 shares of the stock in a transaction on Wednesday, September 13th. The stock was bought at an average price of $17.11 per share, for a total transaction of $369,062.70. Following the acquisition, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at $171,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the stock in a transaction on Monday, August 28th. The stock was acquired at an average price of $16.30 per share, with a total value of $42,380,000.00. Following the acquisition, the insider now directly owns 276,408,041 shares in the company, valued at $4,505,451,068.30. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,979,505 shares of company stock valued at $48,661,242. 16.10% of the stock is currently owned by company insiders.
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Shares of Coty (COTY) traded down 1.75% during mid-day trading on Friday, hitting $16.86. 7,763,999 shares of the stock were exchanged. The stock’s 50-day moving average price is $18.19 and its 200-day moving average price is $18.53. The company’s market cap is $12.62 billion. Coty has a 52-week low of $15.83 and a 52-week high of $25.34.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Wednesday, August 30th. Coty’s dividend payout ratio is presently -87.72%.
Coty Company Profile
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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