Coty Inc. (COTY) Lowered to Hold at Zacks Investment Research
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
Several other brokerages also recently commented on COTY. B. Riley restated a sell rating and issued a $19.50 price target on shares of Coty in a research report on Monday, June 20th. Bank of America Corp. set a $29.00 price target on shares of Coty and gave the company a hold rating in a research report on Wednesday, August 31st. Citigroup Inc. upped their price target on shares of Coty from $28.00 to $30.00 and gave the company a neutral rating in a research report on Thursday, August 25th. Deutsche Bank AG restated a buy rating on shares of Coty in a research report on Tuesday, May 31st. Finally, Berenberg Bank started coverage on shares of Coty in a research report on Friday, September 9th. They issued a sell rating and a $23.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Coty currently has a consensus rating of Hold and an average price target of $28.05.
Shares of Coty (NYSE:COTY) opened at 23.85 on Wednesday. The stock’s 50 day moving average is $26.69 and its 200 day moving average is $27.12. Coty has a 52 week low of $21.48 and a 52 week high of $31.60. The stock has a market capitalization of $8.02 billion, a PE ratio of 54.20 and a beta of 0.37.
Coty (NYSE:COTY) last released its earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. Coty had a net margin of 3.61% and a return on equity of 80.72%. The business earned $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Coty will post $1.12 EPS for the current fiscal year.
In other news, major shareholder Cosmetics B.V. Jab bought 225,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $26.94 per share, for a total transaction of $6,061,500.00. Following the purchase, the insider now owns 6,469,861 shares of the company’s stock, valued at approximately $174,298,055.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sebastien Froidefond sold 3,983 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $27.02, for a total transaction of $107,620.66. Following the completion of the transaction, the senior vice president now owns 20,862 shares in the company, valued at $563,691.24. The disclosure for this sale can be found here. Insiders own 12.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock worth $124,000 after buying an additional 207 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of Coty during the second quarter worth $156,000. FDx Advisors Inc. bought a new stake in shares of Coty during the second quarter worth $205,000. BlackRock Inc. increased its stake in shares of Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock worth $242,000 after buying an additional 6,649 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock worth $245,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 17.44% of the company’s stock.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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