Investors Purchase Large Volume of Call Options on Coty (COTY)

Coty Inc (NYSE:COTY) was the recipient of unusually large options trading on Monday. Investors purchased 15,243 call options on the company. This is an increase of approximately 2,760% compared to the typical volume of 533 call options.

In related news, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was purchased at an average price of $12.29 per share, with a total value of $31,954,000.00. Following the completion of the transaction, the insider now directly owns 291,138,041 shares of the company’s stock, valued at $3,578,086,523.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert S. Singer bought 20,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $11.50 per share, with a total value of $230,000.00. Following the transaction, the director now directly owns 175,000 shares of the company’s stock, valued at $2,012,500. The disclosure for this purchase can be found here. Insiders have acquired 3,655,000 shares of company stock valued at $44,583,400 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Coty by 31.5% during the second quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after purchasing an additional 13,121,191 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Coty by 17.3% during the second 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 during the last quarter. Tobam grew its holdings in shares of Coty by 79.2% during the second 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 during the last quarter. Poplar Forest Capital LLC bought a new stake in shares of Coty during the third quarter worth $12,883,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Coty by 565.0% during the second 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 during the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.

A number of brokerages have recently commented on COTY. Wells Fargo & Co reiterated a “hold” rating on shares of Coty in a report on Tuesday, July 17th. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a report on Monday, July 23rd. JPMorgan Chase & Co. cut their price target on Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 10th. Morgan Stanley upgraded Coty from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $17.00 to $14.50 in a report on Tuesday, August 28th. Finally, Barclays set a $15.00 target price on Coty and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.11.

Shares of NYSE COTY opened at $11.06 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.62. The firm has a market capitalization of $8.25 billion, a P/E ratio of 16.03, a PEG ratio of 1.43 and a beta of 0.47. Coty has a one year low of $9.69 and a one year high of $21.68.

Coty (NYSE:COTY) last issued its earnings results on Tuesday, August 21st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates 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 was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Coty will post 0.75 EPS for the current year.

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About Coty

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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