Coty (NYSE:COTY) had its price target cut by Wells Fargo & Co from $11.00 to $9.00 in a research note published on Wednesday. They currently have a hold rating on the stock.
Other equities research analysts have also recently issued reports about the company. BMO Capital Markets reiterated a market perform rating and issued a $24.00 target price on shares of Coty in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Coty from a sell rating to a hold rating in a report on Monday, July 23rd. Citigroup lowered their target price on Coty from $18.00 to $15.00 and set a buy rating for the company in a report on Thursday, August 23rd. Societe Generale cut Coty from a buy rating to a hold rating in a report on Wednesday, August 22nd. Finally, Jefferies Financial Group set a $10.00 target price on Coty and gave the stock a hold rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $13.95.
COTY opened at $8.49 on Wednesday. Coty has a 52-week low of $8.29 and a 52-week high of $21.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.62. The firm has a market cap of $6.23 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.15 and a beta of 0.47.
Coty (NYSE:COTY) last issued its earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. Coty had a positive return on equity of 5.72% and a negative net margin of 1.75%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, research analysts forecast that Coty will post 0.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, November 29th. Coty’s dividend payout ratio (DPR) is currently 72.46%.
In related news, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the purchase, the insider now directly owns 291,138,041 shares of the company’s stock, valued at approximately $3,578,086,523.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Singer acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were bought at an average price of $12.00 per share, with a total value of $60,000.00. Following the completion of the purchase, the director now directly owns 175,000 shares in the company, valued at $2,100,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,655,000 shares of company stock valued at $44,583,400 over the last 90 days. 1.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of COTY. Bank of New York Mellon Corp lifted its stake in shares of Coty by 819,570.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,836,022 shares of the company’s stock worth $311,939,000 after purchasing an additional 24,832,992 shares during the last quarter. FMR LLC increased its position in Coty by 31.5% during the 2nd 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. Thompson Siegel & Walmsley LLC acquired a new position in Coty during the 3rd quarter valued at about $59,090,000. Tobam increased its position in Coty by 79.2% during the 2nd quarter. Tobam now owns 3,233,850 shares of the company’s stock valued at $45,597,000 after buying an additional 1,428,751 shares in the last quarter. Finally, Poplar Forest Capital LLC acquired a new position in Coty during the 3rd quarter valued at about $12,883,000. Hedge funds and other institutional investors own 64.12% of the company’s stock.
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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