Insider Buying: Coty Inc. (COTY) Major Shareholder Acquires 5,400,000 Shares of Stock
Coty Inc. (NYSE:COTY) major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $16.85 per share, with a total value of $90,990,000.00. Following the completion of the transaction, the insider now owns 279,608,041 shares in the company, valued at approximately $4,711,395,490.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Cosmetics B.V. Jab also recently made the following trade(s):
- On Monday, November 13th, Cosmetics B.V. Jab acquired 1,800,000 shares of Coty stock. The shares were purchased at an average price of $16.70 per share, with a total value of $30,060,000.00.
- On Monday, August 28th, Cosmetics B.V. Jab acquired 2,600,000 shares of Coty stock. The shares were purchased at an average price of $16.30 per share, with a total value of $42,380,000.00.
Coty Inc. (NYSE COTY) traded up $0.20 during trading on Wednesday, hitting $16.95. 7,131,300 shares of the company’s stock were exchanged, compared to its average volume of 5,610,447. Coty Inc. has a 12-month low of $14.24 and a 12-month high of $20.88. The company has a market capitalization of $12,540.49, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, November 29th. Coty’s dividend payout ratio (DPR) is -83.33%.
Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Coty in a research report on Sunday. DA Davidson increased their price objective on shares of Coty from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Wells Fargo & Company reiterated a “hold” rating and set a $17.00 price objective on shares of Coty in a research report on Thursday, November 9th. BidaskClub cut shares of Coty from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Coty from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.30.
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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