Peter Harf Acquires 4,675,301 Shares of Coty Inc (COTY) Stock

Coty Inc (NYSE:COTY) Director Peter Harf acquired 4,675,301 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $11.66 per share, for a total transaction of $54,514,009.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

COTY traded up $0.39 during midday trading on Tuesday, hitting $12.12. 18,078,301 shares of the company’s stock traded hands, compared to its average volume of 15,664,818. Coty Inc has a one year low of $5.91 and a one year high of $14.87. The firm has a market cap of $8.81 billion, a PE ratio of 17.57, a PEG ratio of 2.61 and a beta of 0.88. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.95.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Coty had a negative net margin of 13.20% and a positive return on equity of 5.78%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Coty Inc will post 0.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, June 5th. Coty’s dividend payout ratio is 72.46%.

Several large investors have recently added to or reduced their stakes in COTY. Morgan Stanley raised its position in shares of Coty by 160.5% in the third quarter. Morgan Stanley now owns 488,714 shares of the company’s stock valued at $6,139,000 after purchasing an additional 301,094 shares during the period. State of Alaska Department of Revenue raised its position in shares of Coty by 33.7% in the fourth quarter. State of Alaska Department of Revenue now owns 205,777 shares of the company’s stock valued at $1,348,000 after purchasing an additional 51,884 shares during the period. Virtu Financial LLC raised its position in shares of Coty by 524.5% in the fourth quarter. Virtu Financial LLC now owns 102,504 shares of the company’s stock valued at $672,000 after purchasing an additional 86,090 shares during the period. Boenning & Scattergood Inc. bought a new position in shares of Coty in the fourth quarter valued at approximately $158,000. Finally, Strs Ohio raised its position in shares of Coty by 31.4% in the fourth quarter. Strs Ohio now owns 83,893 shares of the company’s stock valued at $550,000 after purchasing an additional 20,053 shares during the period. 66.31% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on COTY shares. Zacks Investment Research raised shares of Coty from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Coty in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Coty to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 11th. Wells Fargo & Co raised their price objective on shares of Coty from $9.00 to $11.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, Citigroup lowered shares of Coty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $12.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.50.

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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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