Coty (NYSE:COTY) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 51,832,627 shares, an increase of 4.6% from the February 15th total of 49,530,250 shares. Based on an average daily volume of 4,551,593 shares, the short-interest ratio is currently 11.4 days. Currently, 121.4% of the company’s shares are short sold.
Several brokerages have recently commented on COTY. Barclays set a $20.00 price target on Coty and gave the company a “hold” rating in a research note on Saturday, February 10th. Royal Bank of Canada raised Coty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 21st. Citigroup increased their target price on Coty from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase increased their target price on Coty from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus reissued 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.71.
In other Coty news, major shareholder Cosmetics B.V. Jab purchased 1,550,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $20.27 per share, with a total value of $31,418,500.00. Following the purchase, the insider now directly owns 287,558,041 shares in the company, valued at approximately $5,828,801,491.07. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Shares of COTY traded down $0.16 during mid-day trading on Friday, reaching $18.29. The company’s stock had a trading volume of 3,653,974 shares, compared to its average volume of 4,081,643. Coty has a 12-month low of $14.24 and a 12-month high of $21.68. The company has a market cap of $13,715.01, a P/E ratio of 29.03, a PEG ratio of 1.97 and a beta of 0.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 0.93.
Coty (NYSE:COTY) last released its quarterly earnings data 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 business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. analysts predict that Coty will post 0.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.73%. Coty’s payout ratio is currently 79.37%.
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Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
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