Coty (COTY) Shares Gap Down to $11.83
Coty Inc (NYSE:COTY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $12.07, but opened at $11.83. Coty shares last traded at $11.47, with a volume of 5868892 shares.
A number of equities analysts recently commented on COTY shares. Citigroup dropped their price target on shares of Coty from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Morgan Stanley dropped their price target on shares of Coty from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, June 21st. Barclays set a $15.00 price target on shares of Coty and gave the stock a “hold” rating in a research note on Wednesday, August 22nd. Wells Fargo & Co dropped their price target on shares of Coty from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 22nd. Finally, Societe Generale cut shares of Coty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Four equities 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.40.
The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.63 and a beta of 0.21. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.82.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.36%. Coty’s payout ratio is 72.46%.
In other Coty news, Director Robert S. Singer purchased 5,000 shares of Coty stock in a transaction dated Monday, August 27th. The stock was acquired at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the acquisition, the director now owns 175,000 shares in the company, valued at approximately $2,100,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of Coty stock in a transaction dated Tuesday, August 28th. The stock was acquired at an average price of $12.29 per share, with a total value of $31,954,000.00. Following the acquisition, the insider now owns 291,138,041 shares in the company, valued at approximately $3,578,086,523.89. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,655,000 shares of company stock valued at $44,583,400 in the last quarter. 1.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Coty by 5.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 153,893 shares of the company’s stock valued at $1,932,000 after purchasing an additional 8,519 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Coty in the 2nd quarter valued at about $2,657,000. Andra AP fonden bought a new stake in shares of Coty in the 2nd quarter valued at about $4,219,000. Global X Management Co LLC raised its holdings in shares of Coty by 78.7% in the 2nd quarter. Global X Management Co LLC now owns 82,370 shares of the company’s stock valued at $1,161,000 after purchasing an additional 36,279 shares in the last quarter. Finally, Arbor Wealth Management LLC raised its holdings in shares of Coty by 2.5% in the 2nd quarter. Arbor Wealth Management LLC now owns 271,386 shares of the company’s stock valued at $3,149,000 after purchasing an additional 6,747 shares in the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.
About Coty (NYSE: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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