Coty Inc. (COTY) Coverage Initiated by Analysts at DA Davidson
Equities research analysts at DA Davidson started coverage on shares of Coty Inc. (NYSE:COTY) in a research report issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the stock.
COTY has been the topic of several other reports. Deutsche Bank AG restated a “buy” rating and set a $20.00 price target (down from $22.00) on shares of Coty in a report on Wednesday, August 23rd. BMO Capital Markets restated a “buy” rating and set a $24.00 price target on shares of Coty in a report on Thursday, October 5th. BidaskClub upgraded Coty from a “strong sell” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 price target on shares of Coty in a report on Sunday, July 16th. Finally, Zacks Investment Research cut Coty from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.04.
Shares of Coty (NYSE:COTY) traded down 4.93% during midday trading on Tuesday, reaching $16.00. 8,238,234 shares of the company’s stock were exchanged. Coty has a 12 month low of $15.83 and a 12 month high of $23.67. The stock’s market cap is $11.98 billion. The company’s 50 day moving average is $16.61 and its 200-day moving average is $18.20.
In related news, CEO Camillo Pane purchased 48,485 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $16.50 per share, with a total value of $800,002.50. Following the purchase, the chief executive officer now directly owns 336,142 shares of the company’s stock, valued at $5,546,343. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average cost of $16.30 per share, for a total transaction of $42,380,000.00. Following the completion of the purchase, 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. Over the last three months, insiders have purchased 2,979,505 shares of company stock worth $48,661,242. 1.00% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of COTY. Legal & General Group Plc grew its position in shares of Coty by 4.9% in the 1st 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. FDx Advisors Inc. bought a new stake in shares of Coty during the second quarter valued at approximately $205,000. BlackRock Inc. boosted its position in shares of Coty by 324.8% during the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after purchasing an additional 6,649 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Coty by 2.3% during the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after purchasing an additional 212 shares in the last quarter. Finally, Crestpoint Capital Management boosted its position in shares of Coty by 12.2% during the fourth quarter. Crestpoint Capital Management now owns 12,900 shares of the company’s stock valued at $331,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 65.84% of the company’s stock.
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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