Millennium Management LLC Increases Holdings in Coty Inc. (NYSE:COTY)

Millennium Management LLC lifted its stake in shares of Coty Inc. (NYSE:COTY) by 58.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,585,632 shares of the company’s stock after purchasing an additional 1,695,358 shares during the quarter. Millennium Management LLC’s holdings in Coty were worth $31,916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COTY. Norges Bank purchased a new stake in shares of Coty in the fourth quarter worth $44,401,000. Amundi increased its stake in Coty by 1,990,624.9% in the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after acquiring an additional 4,478,906 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of Coty in the 4th quarter valued at about $19,663,000. Ameriprise Financial Inc. boosted its position in shares of Coty by 12.1% during the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after acquiring an additional 2,175,120 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Coty during the 4th quarter valued at about $12,981,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COTY. Raymond James cut shares of Coty from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 17th. Barclays decreased their price target on shares of Coty from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, April 11th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $5.00 price objective (down from $8.00) on shares of Coty in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on Coty from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, Bank of America lowered Coty from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $9.00 to $4.50 in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.80.

Coty Trading Up 0.4%

Shares of COTY stock opened at $5.05 on Monday. The stock has a market capitalization of $4.40 billion, a PE ratio of -505.00, a P/E/G ratio of 0.81 and a beta of 1.90. Coty Inc. has a 1-year low of $4.46 and a 1-year high of $10.80. The business has a 50-day moving average of $5.15 and a 200 day moving average of $6.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45.

Coty (NYSE:COTY) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Coty had a return on equity of 6.34% and a net margin of 0.22%. Coty’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Coty Inc. will post 0.39 earnings per share for the current year.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.