Elkfork Partners LLC lessened its stake in Coty Inc (NYSE:COTY) by 17.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,924 shares of the company’s stock after selling 10,528 shares during the quarter. Elkfork Partners LLC’s holdings in Coty were worth $669,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Coty by 73.6% in the second quarter. Pacer Advisors Inc. now owns 75,028 shares of the company’s stock worth $1,005,000 after buying an additional 31,812 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Coty in the second quarter worth $165,000. M&T Bank Corp lifted its holdings in shares of Coty by 36.8% in the second quarter. M&T Bank Corp now owns 17,120 shares of the company’s stock worth $229,000 after buying an additional 4,603 shares in the last quarter. Verity Asset Management Inc. lifted its holdings in shares of Coty by 4.1% in the second quarter. Verity Asset Management Inc. now owns 45,791 shares of the company’s stock worth $614,000 after buying an additional 1,807 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Coty by 129.7% in the second quarter. Janus Henderson Group PLC now owns 989,198 shares of the company’s stock worth $13,255,000 after buying an additional 558,517 shares in the last quarter. 37.89% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. ValuEngine downgraded shares of Coty from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Stifel Nicolaus lowered their target price on shares of Coty from $13.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. Royal Bank of Canada set a $14.00 price target on shares of Coty and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Co reduced their price target on shares of Coty from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, August 29th. Finally, Barclays restated a “neutral” rating on shares of Coty in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Coty currently has a consensus rating of “Hold” and an average target price of $11.73.
In related news, CMO Fiona Hughes bought 210,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $9.81 per share, with a total value of $2,060,100.00. Following the completion of the purchase, the chief marketing officer now owns 210,000 shares of the company’s stock, valued at $2,060,100. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert S. Singer bought 20,000 shares of the stock in a transaction dated Friday, August 30th. The shares were bought at an average cost of $9.49 per share, with a total value of $189,800.00. The disclosure for this purchase can be found here. Insiders have acquired 507,000 shares of company stock worth $4,885,580 in the last quarter. Company insiders own 1.20% of the company’s stock.
Shares of COTY opened at $10.53 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.61 and a current ratio of 0.94. 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 $7.91 billion, a PE ratio of 16.20, a P/E/G ratio of 2.31 and a beta of 0.74. The company’s fifty day moving average is $9.81 and its 200 day moving average is $11.34.
Coty (NYSE:COTY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. Coty had a negative net margin of 43.76% and a positive return on equity of 6.89%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business posted $0.14 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, research analysts forecast 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. Shareholders of record on Monday, September 9th will be given a dividend of $0.125 per share. This represents a yield of 5.3%. The ex-dividend date is Friday, September 6th. Coty’s dividend payout ratio (DPR) is 76.92%.
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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