Bank of Montreal Can Raises Stake in Coty Inc (COTY)

Bank of Montreal Can grew its position in Coty Inc (NYSE:COTY) by 33.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,728 shares of the company’s stock after buying an additional 66,105 shares during the quarter. Bank of Montreal Can’s holdings in Coty were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of COTY. FMR LLC grew its stake in shares of Coty by 31.5% in the second quarter. FMR LLC now owns 54,828,166 shares of the company’s stock valued at $773,077,000 after buying an additional 13,121,191 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Coty by 17.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,340,088 shares of the company’s stock worth $286,796,000 after purchasing an additional 2,995,010 shares in the last quarter. Tobam grew its stake in Coty by 79.2% during the 2nd quarter. Tobam now owns 3,233,850 shares of the company’s stock worth $45,597,000 after purchasing an additional 1,428,751 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Coty by 565.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,177,000 shares of the company’s stock worth $16,596,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Coty by 2.9% during the 2nd quarter. BlackRock Inc. now owns 29,976,989 shares of the company’s stock worth $422,676,000 after purchasing an additional 833,021 shares in the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

COTY has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 10th. Wells Fargo & Co reissued a “hold” rating on shares of Coty in a research note on Tuesday, July 17th. Barclays set a $15.00 target price on Coty and gave the stock a “hold” rating in a research note on Wednesday, August 22nd. Bank of America cut Coty from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $16.00 to $10.00 in a research note on Thursday, August 16th. Finally, Morgan Stanley raised Coty from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $17.00 to $14.50 in a research note on Tuesday, August 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.11.

COTY opened at $10.99 on Monday. Coty Inc has a 12 month low of $9.69 and a 12 month high of $21.68. The firm has a market cap of $8.25 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.43 and a beta of 0.47. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.82.

Coty (NYSE:COTY) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that Coty Inc will post 0.75 EPS for the current fiscal year.

In other Coty news, Director Robert S. Singer purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was bought at an average cost of $12.00 per share, with a total value of $60,000.00. Following the acquisition, the director now directly owns 175,000 shares of the company’s stock, valued at $2,100,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the insider now directly owns 291,138,041 shares in the company, valued at $3,578,086,523.89. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,655,000 shares of company stock valued at $44,583,400 over the last ninety days. 1.20% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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