Comerica Bank cut its position in shares of Coty Inc (NYSE:COTY) by 30.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,321 shares of the company’s stock after selling 25,924 shares during the period. Comerica Bank’s holdings in Coty were worth $667,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Thor Advisors LLC bought a new stake in shares of Coty during the 1st quarter worth approximately $26,000. CENTRAL TRUST Co acquired a new stake in shares of Coty during the second quarter worth $43,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Coty by 384.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,774 shares of the company’s stock worth $89,000 after buying an additional 6,169 shares during the period. Cleararc Capital Inc. acquired a new stake in shares of Coty during the first quarter worth $126,000. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of Coty during the first quarter worth $130,000. Institutional investors own 38.53% of the company’s stock.
In related news, Director Robert S. Singer bought 15,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $9.08 per share, for a total transaction of $136,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pierre Laubies bought 262,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average price of $9.54 per share, with a total value of $2,499,480.00. Following the completion of the transaction, the chief executive officer now owns 3,218,675 shares of the company’s stock, valued at $30,706,159.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 507,000 shares of company stock valued at $4,885,580. 1.20% of the stock is owned by corporate insiders.
COTY has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Exane BNP Paribas assumed coverage on shares of Coty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $17.00 target price on the stock. Morgan Stanley cut their target price on shares of Coty from $10.90 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus cut their target price on shares of Coty from $13.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. Finally, DA Davidson raised their price objective on shares of Coty from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Coty presently has a consensus rating of “Hold” and a consensus price target of $11.73.
Shares of COTY traded up $0.08 during trading hours on Friday, hitting $10.66. The company’s stock had a trading volume of 2,256,439 shares, compared to its average volume of 5,805,475. The business has a 50 day simple moving average of $9.92 and a two-hundred day simple moving average of $11.38. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.34 and a beta of 0.74. Coty Inc has a 52-week low of $5.91 and a 52-week high of $14.14. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.94 and a quick ratio of 0.61.
Coty (NYSE:COTY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Coty had a negative net margin of 43.76% and a positive return on equity of 6.89%. Coty’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Research analysts predict that Coty Inc will post 0.68 earnings per share for the current year.
The company also recently disclosed a — dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, September 6th. This represents a yield of 5.3%. Coty’s dividend payout ratio is currently 76.92%.
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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