Andra AP fonden Takes $4.22 Million Position in Coty Inc (COTY)
Andra AP fonden purchased a new stake in shares of Coty Inc (NYSE:COTY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 299,200 shares of the company’s stock, valued at approximately $4,219,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of COTY. KBC Group NV lifted its position in shares of Coty by 61.1% in the first quarter. KBC Group NV now owns 55,711 shares of the company’s stock valued at $1,020,000 after buying an additional 21,125 shares during the last quarter. BlackRock Inc. lifted its position in shares of Coty by 0.4% in the first quarter. BlackRock Inc. now owns 29,143,968 shares of the company’s stock valued at $533,336,000 after buying an additional 121,163 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Coty by 25.1% in the first quarter. Toronto Dominion Bank now owns 255,556 shares of the company’s stock valued at $4,676,000 after buying an additional 51,310 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Coty by 11.0% in the first quarter. New York State Common Retirement Fund now owns 2,308,781 shares of the company’s stock valued at $42,251,000 after buying an additional 228,265 shares during the last quarter. Finally, IBM Retirement Fund acquired a new stake in shares of Coty in the first quarter valued at approximately $188,000. 66.82% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Robert S. Singer acquired 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, for a total transaction of $230,000.00. Following the purchase, the director now directly owns 175,000 shares in the company, valued at $2,012,500. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer acquired 5,000 shares of the stock in a transaction on Monday, August 27th. The shares were bought at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the purchase, the director now owns 175,000 shares in the company, valued at $2,100,000. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 3,655,000 shares of company stock valued at $44,583,400. 1.20% of the stock is currently owned by insiders.
Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm’s revenue was up 2.6% on a year-over-year basis. equities research analysts forecast that Coty Inc will post 0.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.50 annualized dividend and a yield of 3.96%. Coty’s payout ratio is currently 72.46%.
A number of analysts have recently issued reports on the company. Citigroup cut their price objective on Coty from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 23rd. Wells Fargo & Co cut their price objective on Coty from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 22nd. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. set a $11.00 price target on Coty and gave the stock a “sell” rating in a report on Friday, September 7th. Finally, Barclays set a $15.00 price target on Coty and gave the stock a “hold” rating in a report on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Coty has a consensus rating of “Hold” and an average target price of $15.40.
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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