State of Tennessee Treasury Department lifted its holdings in Coty Inc (NYSE:COTY) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,998 shares of the company’s stock after purchasing an additional 3,739 shares during the quarter. State of Tennessee Treasury Department’s holdings in Coty were worth $767,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Coty in the second quarter worth $278,000. Aperio Group LLC grew its stake in shares of Coty by 2.6% in the second quarter. Aperio Group LLC now owns 442,137 shares of the company’s stock worth $5,925,000 after purchasing an additional 11,232 shares in the last quarter. Commerce Bank grew its stake in shares of Coty by 42.2% in the second quarter. Commerce Bank now owns 21,044 shares of the company’s stock worth $282,000 after purchasing an additional 6,243 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Coty by 2,997.8% in the third quarter. Meeder Asset Management Inc. now owns 61,026 shares of the company’s stock worth $641,000 after purchasing an additional 59,056 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in shares of Coty in the third quarter worth $270,000. 38.02% of the stock is owned by institutional investors.
Several brokerages recently weighed in on COTY. Royal Bank of Canada set a $14.00 target price on Coty and gave the company a “buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus raised their target price on Coty from $11.50 to $13.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Bank of America raised their target price on Coty from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group set a $10.50 target price on Coty and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Co raised their target price on Coty from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.96.
Shares of COTY stock opened at $12.21 on Friday. The stock has a 50-day simple moving average of $11.15 and a 200 day simple moving average of $11.33. Coty Inc has a fifty-two week low of $5.91 and a fifty-two week high of $14.14. The stock has a market capitalization of $9.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 3.32 and a beta of 0.77. The company has a quick ratio of 0.61, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.
Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Coty had a positive return on equity of 7.57% and a negative net margin of 43.46%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company posted $0.11 EPS. Coty’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Coty Inc will post 0.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, November 18th will be given a $0.125 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.10%. Coty’s dividend payout ratio (DPR) is 76.92%.
In related news, CMO Fiona Hughes purchased 210,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of $9.81 per share, for a total transaction of $2,060,100.00. Following the transaction, the chief marketing officer now directly owns 210,000 shares of the company’s stock, valued at approximately $2,060,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Pierre Laubies purchased 262,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $9.54 per share, with a total value of $2,499,480.00. Following the transaction, the chief executive officer now directly owns 3,218,675 shares in the company, valued at $30,706,159.50. The disclosure for this purchase can be found here. Insiders purchased a total of 507,000 shares of company stock valued at $4,885,580 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.
Coty Company Profile
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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