Coty Inc (COTY) Short Interest Down 5.2% in November

Coty Inc (NYSE:COTY) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 62,360,248 shares, a drop of 5.2% from the October 31st total of 65,764,746 shares. Based on an average daily trading volume, of 15,635,127 shares, the days-to-cover ratio is presently 4.0 days. Currently, 14.2% of the company’s stock are short sold.

In related news, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the stock in a transaction on Friday, November 16th. The shares were purchased at an average price of $8.89 per share, with a total value of $48,006,000.00. Following the transaction, the insider now directly owns 294,508,041 shares of the company’s stock, valued at $2,618,176,484.49. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer purchased 45,000 shares of the stock in a transaction on Thursday, November 15th. The shares were bought at an average cost of $8.30 per share, for a total transaction of $373,500.00. Following the transaction, the director now directly owns 235,000 shares in the company, valued at $1,950,500. The disclosure for this purchase can be found here. In the last three months, insiders purchased 11,023,447 shares of company stock worth $97,704,004. 1.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COTY. Bank of New York Mellon Corp boosted 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 acquiring an additional 24,832,992 shares during the period. FMR LLC boosted its stake 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 during the period. Franklin Resources Inc. boosted its stake in Coty by 21.2% in the 3rd quarter. Franklin Resources Inc. now owns 50,872,038 shares of the company’s stock valued at $638,952,000 after purchasing an additional 8,894,234 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Coty in the 3rd quarter valued at $59,090,000. Finally, Mackenzie Financial Corp boosted its stake in Coty by 43.6% in the 3rd quarter. Mackenzie Financial Corp now owns 12,742,524 shares of the company’s stock valued at $160,046,000 after purchasing an additional 3,868,062 shares during the period. Institutional investors own 66.21% of the company’s stock.

Several research analysts have weighed in on COTY shares. BMO Capital Markets raised Coty from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Thursday, November 15th. JPMorgan Chase & Co. lowered their price target on Coty from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 10th. Citigroup set a $11.00 price target on Coty and gave the stock a “buy” rating in a research report on Friday, November 9th. Wells Fargo & Co set a $11.00 price target on Coty and gave the stock a “hold” rating in a research report on Thursday, September 13th. Finally, Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.86.

Shares of NYSE COTY opened at $7.93 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.99 and a debt-to-equity ratio of 0.90. Coty has a 12 month low of $7.91 and a 12 month high of $21.68. The company has a market cap of $6.26 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40.

Coty (NYSE:COTY) last issued its earnings results on Wednesday, November 7th. The company reported $0.11 EPS 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, research analysts expect that Coty will post 0.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 6.31%. Coty’s dividend payout ratio is currently 72.46%.

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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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