Several other brokerages have also recently issued reports on COTY. JPMorgan Chase & Co. reduced their price objective on Coty from $13.00 to $11.00 and set an underweight rating on the stock in a research note on Friday, August 10th. Jefferies Financial Group set a $10.00 price objective on Coty and gave the company a hold rating in a research note on Wednesday. Morgan Stanley restated an equal weight rating and issued a $10.00 price target (down from $14.50) on shares of Coty in a research note on Thursday. Societe Generale cut Coty from a buy rating to a hold rating in a research note on Wednesday, August 22nd. Finally, BMO Capital Markets restated a market perform rating and issued a $24.00 price target on shares of Coty in a research note on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $13.95.
Shares of NYSE COTY traded up $0.19 during mid-day trading on Friday, hitting $8.49. The company had a trading volume of 15,129,248 shares, compared to its average volume of 8,334,474. The stock has a market cap of $6.50 billion, a P/E ratio of 12.30, a PEG ratio of 1.12 and a beta of 0.47. The company has a current ratio of 0.99, a quick ratio of 0.62 and a debt-to-equity ratio of 0.90. Coty has a 1-year low of $8.29 and a 1-year high of $21.68.
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 paid a $0.125 dividend. 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 is presently 72.46%.
In other news, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were acquired 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 owns 291,138,041 shares of the company’s stock, valued at $3,578,086,523.89. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert S. Singer bought 5,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the transaction, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $2,100,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,655,000 shares of company stock worth $44,583,400. 1.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COTY. Bank of New York Mellon Corp grew its holdings in shares of Coty by 819,570.7% during the third quarter. Bank of New York Mellon Corp now owns 24,836,022 shares of the company’s stock worth $311,939,000 after buying an additional 24,832,992 shares during the last quarter. FMR LLC grew its holdings in shares of Coty by 31.5% during the second quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after buying an additional 13,121,191 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Coty during the third quarter worth about $59,090,000. Tobam grew its holdings in shares of Coty by 79.2% during the second quarter. Tobam now owns 3,233,850 shares of the company’s stock worth $45,597,000 after buying an additional 1,428,751 shares during the last quarter. Finally, Poplar Forest Capital LLC purchased a new position in shares of Coty during the third quarter worth about $12,883,000. 64.12% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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