M&G Investment Management Ltd. Reduces Stock Position in Coty Inc. (NYSE:COTY)

M&G Investment Management Ltd. cut its stake in Coty Inc. (NYSE:COTY) by 4.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 754,219 shares of the company’s stock after selling 34,980 shares during the quarter. M&G Investment Management Ltd.’s holdings in Coty were worth $6,788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Coty by 7.6% in the first quarter. BlackRock Inc. now owns 34,154,408 shares of the company’s stock valued at $307,730,000 after buying an additional 2,425,085 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Coty by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,277,414 shares of the company’s stock valued at $51,087,000 after purchasing an additional 54,605 shares during the last quarter. Contrarius Investment Management Ltd grew its position in shares of Coty by 3.0% in the first quarter. Contrarius Investment Management Ltd now owns 7,150,657 shares of the company’s stock valued at $64,427,000 after purchasing an additional 207,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Coty in the first quarter valued at approximately $47,668,000. Finally, Prentice Capital Management LP grew its position in shares of Coty by 15.7% in the fourth quarter. Prentice Capital Management LP now owns 4,437,498 shares of the company’s stock valued at $31,151,000 after purchasing an additional 601,430 shares during the last quarter. 26.77% of the stock is owned by institutional investors.

In related news, major shareholder Holdco B.V. Cottage purchased 245,700 shares of the firm’s stock in a transaction on Wednesday, May 26th. The shares were bought at an average price of $11.78 per share, for a total transaction of $2,894,346.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Shares of COTY opened at $8.67 on Friday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -7.54 and a beta of 2.49. The company has a fifty day moving average of $9.11. Coty Inc. has a fifty-two week low of $2.65 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.47 and a current ratio of 0.71.

COTY has been the topic of several research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Coty from $11.00 to $15.00 and gave the company a “focus list” rating in a research report on Friday, April 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coty from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, April 26th. Royal Bank of Canada increased their price target on shares of Coty from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Stifel Nicolaus raised their target price on shares of Coty from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, April 27th. Finally, Citigroup restated a “focus list” rating and set a $15.00 target price (up previously from $11.00) on shares of Coty in a research report on Friday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.78.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, and Tiffany & Co brands.

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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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