Coty (COTY) Price Target Cut to $9.00 by Analysts at Wells Fargo & Co

Coty (NYSE:COTY) had its price target cut by Wells Fargo & Co from $11.00 to $9.00 in a research note released on Wednesday morning. They currently have a hold rating on the stock.

Several other research firms have also issued reports on COTY. Zacks Investment Research upgraded Coty from a sell rating to a hold rating in a report on Monday, July 23rd. JPMorgan Chase & Co. dropped their target price on Coty from $13.00 to $11.00 and set an underweight rating on the stock in a report on Friday, August 10th. Morgan Stanley upgraded Coty from an equal weight rating to an overweight rating and dropped their target price for the stock from $17.00 to $14.50 in a report on Tuesday, August 28th. Barclays set a $15.00 target price on Coty and gave the stock a hold rating in a report on Wednesday, August 22nd. Finally, Citigroup dropped their target price on Coty from $18.00 to $15.00 and set a buy rating on the stock in a report on Thursday, August 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $13.95.

Shares of Coty stock traded up $0.19 during trading on Wednesday, reaching $8.49. The stock had a trading volume of 15,129,248 shares, compared to its average volume of 8,334,474. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.47. 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.

Coty (NYSE:COTY) last released its earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Coty’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts expect that Coty will post 0.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Thursday, November 29th. Coty’s dividend payout ratio (DPR) is presently 72.46%.

In other Coty news, Director Robert S. Singer purchased 20,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $11.50 per share, with a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 175,000 shares in the company, valued at $2,012,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the stock in a transaction on Tuesday, August 28th. The shares were acquired at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the transaction, the insider now 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. In the last three months, insiders have acquired 3,655,000 shares of company stock worth $44,583,400. Company insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its position in Coty by 46,483.5% during the third quarter. Canada Pension Plan Investment Board now owns 42,391 shares of the company’s stock worth $532,000 after buying an additional 42,300 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Coty by 17.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 205,440 shares of the company’s stock valued at $2,627,000 after purchasing an additional 30,456 shares during the last quarter. FMR LLC grew its position in shares of Coty by 6.8% in the third quarter. FMR LLC now owns 58,572,061 shares of the company’s stock valued at $735,665,000 after purchasing an additional 3,743,895 shares during the last quarter. Symons Capital Management Inc. acquired a new position in shares of Coty in the third quarter valued at approximately $6,037,000. Finally, Twin Tree Management LP grew its position in shares of Coty by 9.5% in the third quarter. Twin Tree Management LP now owns 277,650 shares of the company’s stock valued at $3,487,000 after purchasing an additional 24,184 shares during the last quarter. 64.12% of the stock is currently owned by hedge funds and other institutional investors.

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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