Coty Inc (NYSE:COTY) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 84,069,901 shares, an increase of 11.6% from the August 15th total of 75,347,405 shares. Currently, 18.7% of the shares of the stock are sold short. Based on an average daily volume of 13,299,287 shares, the days-to-cover ratio is currently 6.3 days.
In related news, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average cost of $12.29 per share, with a total value of $31,954,000.00. Following the purchase, the insider now directly owns 291,138,041 shares in the company, valued at approximately $3,578,086,523.89. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer purchased 20,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average cost of $11.50 per share, for a total transaction of $230,000.00. Following the completion of the purchase, the director now owns 175,000 shares in the company, valued at $2,012,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,655,000 shares of company stock worth $44,583,400. Corporate insiders own 1.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in COTY. FMR LLC lifted its holdings in Coty by 31.5% in the 2nd quarter. FMR LLC now owns 54,828,166 shares of the company’s stock valued at $773,077,000 after purchasing an additional 13,121,191 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Coty by 11.3% in the 1st quarter. Franklin Resources Inc. now owns 32,962,804 shares of the company’s stock valued at $603,227,000 after purchasing an additional 3,355,105 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Coty by 17.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,340,088 shares of the company’s stock valued at $286,796,000 after purchasing an additional 2,995,010 shares in the last quarter. Tobam lifted its holdings in Coty by 79.2% in the 2nd quarter. Tobam now owns 3,233,850 shares of the company’s stock valued at $45,597,000 after purchasing an additional 1,428,751 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Coty by 565.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,177,000 shares of the company’s stock valued at $16,596,000 after purchasing an additional 1,000,000 shares in the last quarter. Institutional investors own 66.84% of the company’s stock.
Shares of NYSE COTY opened at $12.31 on Tuesday. The stock has a market capitalization of $9.27 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 1.64 and a beta of 0.21. Coty has a 52 week low of $10.73 and a 52 week high of $21.68. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.62 and a current ratio of 0.90.
Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. Coty’s revenue was up 2.6% on a year-over-year basis. equities research analysts expect that Coty will post 0.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 4.06%. Coty’s dividend payout ratio (DPR) is 72.46%.
A number of equities analysts have recently weighed in on COTY shares. JPMorgan Chase & Co. lowered their price target on shares of Coty from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 10th. Morgan Stanley raised shares of Coty from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $17.00 to $14.50 in a research note on Tuesday, August 28th. Societe Generale cut shares of Coty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $24.00 price objective on shares of Coty in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Coty in a research note on Tuesday, July 17th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Coty currently has an average rating of “Hold” and an average target price of $15.40.
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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