Coty Inc (NYSE:COTY) declared a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.125 per share on Friday, December 14th. This represents a $0.50 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Thursday, November 29th.
Coty has raised its dividend by an average of 35.7% per year over the last three years and has raised its dividend every year for the last 3 years. Coty has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Coty to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 58.1%.
NYSE COTY traded down $0.36 during trading on Thursday, hitting $8.30. The company’s stock had a trading volume of 17,038,232 shares, compared to its average volume of 6,297,838. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The company has a market cap of $8.39 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.45 and a beta of 0.47. Coty has a 52 week low of $8.29 and a 52 week high of $21.68.
Several brokerages have commented on COTY. Wells Fargo & Co reaffirmed a “hold” rating on shares of Coty in a research report on Tuesday, July 17th. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. dropped 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. Morgan Stanley upgraded Coty from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $17.00 to $14.50 in a research report on Tuesday, August 28th. Finally, Barclays set a $15.00 price objective on Coty and gave the company a “hold” rating in a research report on Wednesday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $14.32.
In related news, Director Robert S. Singer purchased 5,000 shares of the stock in a transaction on Monday, August 27th. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $2,100,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the stock in a transaction on Tuesday, August 28th. The stock was bought at an average price of $12.29 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,655,000 shares of company stock worth $44,583,400. 1.20% of the stock is currently 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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