Raymond James & Associates reduced its position in shares of Coty Inc (NYSE:COTY) by 27.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 171,097 shares of the company’s stock after selling 65,387 shares during the quarter. Raymond James & Associates’ holdings in Coty were worth $1,968,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of COTY. Morgan Stanley lifted its holdings in shares of Coty by 160.5% during the third quarter. Morgan Stanley now owns 488,714 shares of the company’s stock worth $6,139,000 after purchasing an additional 301,094 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Coty by 9.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 81,113 shares of the company’s stock worth $532,000 after purchasing an additional 7,200 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Coty during the fourth quarter worth about $241,000. Rhumbline Advisers raised its position in Coty by 3.9% during the fourth quarter. Rhumbline Advisers now owns 950,121 shares of the company’s stock valued at $6,233,000 after acquiring an additional 35,600 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Coty by 2.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 672,058 shares of the company’s stock valued at $4,409,000 after acquiring an additional 15,011 shares in the last quarter. Hedge funds and other institutional investors own 73.45% of the company’s stock.
Several research analysts recently weighed in on COTY shares. Jefferies Financial Group set a $11.00 price target on Coty and gave the company a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Coty in a research report on Thursday, February 14th. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Wells Fargo & Co lifted their price target on Coty from $9.00 to $11.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, BNP Paribas started coverage on Coty in a research report on Tuesday, June 4th. They set an “outperform” rating and a $17.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.42.
Shares of COTY opened at $13.35 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.95 and a quick ratio of 0.62. Coty Inc has a one year low of $5.91 and a one year high of $14.87. The company has a market cap of $10.07 billion, a P/E ratio of 19.35, a PEG ratio of 3.07 and a beta of 0.66.
Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Coty had a positive return on equity of 5.78% and a negative net margin of 13.20%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts predict that Coty Inc will post 0.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, June 5th. Coty’s payout ratio is 72.46%.
In other news, COO Giovanni Pieraccioni purchased 93,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $1,201,921.00. Following the completion of the transaction, the chief operating officer now owns 93,100 shares of the company’s stock, valued at $1,201,921. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdco B.V. Cottage purchased 150,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average price of $11.65 per share, with a total value of $1,747,500,000.00. The disclosure for this purchase can be found here. Insiders have purchased 156,808,896 shares of company stock valued at $1,827,304,250 over the last quarter. 1.20% of the stock is owned by company insiders.
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Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.
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