Coty Inc. (NYSE:COTY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Coty Inc. (NYSE:COTY) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,462 shares of the company’s stock after selling 7,915 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coty were worth $2,993,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in Coty in the second quarter valued at $28,000. Captrust Financial Advisors increased its stake in Coty by 509.6% in the first quarter. Captrust Financial Advisors now owns 3,414 shares of the company’s stock valued at $31,000 after purchasing an additional 2,854 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in Coty in the second quarter valued at $72,000. Coe Capital Management LLC acquired a new position in Coty in the second quarter valued at $93,000. Finally, DRW Securities LLC acquired a new position in Coty in the first quarter valued at $105,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

COTY stock opened at $7.54 on Thursday. The company has a market cap of $6.15 billion, a P/E ratio of -18.39 and a beta of 2.51. Coty Inc. has a 52 week low of $2.87 and a 52 week high of $10.49. The company’s 50-day moving average price is $8.40 and its 200 day moving average price is $8.78. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.76.

Coty (NYSE:COTY) last released its quarterly earnings data on Wednesday, August 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Coty had a positive return on equity of 4.80% and a negative net margin of 6.06%. The firm’s quarterly revenue was up 89.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. On average, equities research analysts expect that Coty Inc. will post 0.15 earnings per share for the current year.

COTY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coty from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, August 27th. DA Davidson lifted their price objective on shares of Coty from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, August 30th. Raymond James assumed coverage on shares of Coty in a report on Tuesday, July 13th. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted their target price on shares of Coty from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, August 27th. Finally, Morgan Stanley lifted their target price on shares of Coty from $7.60 to $8.25 and gave the company an “equal weight” rating in a report on Monday, September 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.88.

In related news, major shareholder Rainbow Aggregator L.P. Kkr sold 50,000,088 shares of the business’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $8.39, for a total transaction of $419,500,738.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Coty Company Profile

Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focuses on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.

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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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