Coty Inc (COTY) Sees Significant Increase in Short Interest

Coty Inc (NYSE:COTY) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 51,832,627 shares, a growth of 4.6% from the February 15th total of 49,530,250 shares. Approximately 121.4% of the shares of the company are sold short. Based on an average daily volume of 4,551,593 shares, the short-interest ratio is currently 11.4 days.

Several analysts have issued reports on COTY shares. Wells Fargo set a $17.00 price target on Coty and gave the company a “hold” rating in a report on Monday, December 11th. Royal Bank of Canada raised Coty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 21st. Citigroup raised Coty from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, December 12th. Barclays set a $20.00 price objective on Coty and gave the stock a “hold” rating in a research note on Saturday, February 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Coty in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Coty presently has a consensus rating of “Hold” and an average price target of $19.71.

In related news, major shareholder Cosmetics B.V. Jab purchased 1,550,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $20.27 per share, with a total value of $31,418,500.00. Following the completion of the acquisition, the insider now owns 287,558,041 shares of the company’s stock, valued at approximately $5,828,801,491.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Coty (NYSE:COTY) opened at $18.82 on Friday. The firm has a market capitalization of $14,224.92, a PE ratio of -36.90, a PEG ratio of 2.04 and a beta of 0.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.93 and a quick ratio of 0.66. Coty has a one year low of $14.24 and a one year high of $21.68.

Coty (NYSE:COTY) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Coty had a positive return on equity of 4.45% and a negative net margin of 4.15%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. research analysts forecast that Coty will post 0.72 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Tuesday, February 27th. Coty’s payout ratio is presently -98.04%.

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About Coty

Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.

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