Coty Inc. (COTY) Sees Large Growth in Short Interest
Coty Inc. (NYSE:COTY) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 59,987,209 shares, an increase of 34.4% from the August 15th total of 44,621,989 shares. Based on an average trading volume of 13,107,720 shares, the days-to-cover ratio is presently 4.6 days. Currently, 13.5% of the company’s stock are short sold.
Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Societe Generale started coverage on shares of Coty in a research note on Monday, June 12th. They set a “buy” rating and a $21.00 price objective for the company. Stifel Nicolaus set a $25.00 price objective on shares of Coty and gave the company a “buy” rating in a research note on Monday, August 21st. Jefferies Group LLC started coverage on shares of Coty in a research note on Friday, June 2nd. They set a “hold” rating and a $17.00 price objective for the company. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of Coty in a research note on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Coty presently has a consensus rating of “Hold” and an average target price of $20.54.
Shares of Coty (NYSE COTY) opened at 16.86 on Friday. Coty has a one year low of $15.83 and a one year high of $25.34. The stock’s market cap is $12.62 billion. The stock’s 50 day moving average is $18.19 and its 200-day moving average is $18.53.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Friday, September 1st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.97%. Coty’s dividend payout ratio (DPR) is currently -87.72%.
In other Coty news, SVP Ayesha Zafar purchased 21,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $17.11 per share, for a total transaction of $369,062.70. Following the purchase, the senior vice president now directly owns 10,000 shares in the company, valued at $171,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Camillo Pane purchased 48,485 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $16.50 per share, with a total value of $800,002.50. Following the completion of the purchase, the chief executive officer now owns 336,142 shares in the company, valued at $5,546,343. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,979,505 shares of company stock valued at $48,661,242. 16.10% of the stock is owned by company insiders.
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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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