Coty $COTY Stock Acquired by M&G PLC

M&G PLC grew its position in shares of Coty (NYSE:COTY) by 7.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,675,063 shares of the company’s stock after acquiring an additional 268,653 shares during the period. M&G PLC’s holdings in Coty were worth $9,592,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its stake in shares of Coty by 38.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 18,170 shares of the company’s stock valued at $47,000 after purchasing an additional 5,059 shares during the period. Nisa Investment Advisors LLC grew its stake in Coty by 32.6% in the third quarter. Nisa Investment Advisors LLC now owns 23,067 shares of the company’s stock worth $60,000 after purchasing an additional 5,668 shares during the period. Abel Hall LLC grew its stake in Coty by 11.5% in the third quarter. Abel Hall LLC now owns 84,937 shares of the company’s stock worth $222,000 after purchasing an additional 8,785 shares during the period. Moss Adams Wealth Advisors LLC bought a new position in Coty in the third quarter worth $29,000. Finally, AlphaGrep UK Ltd bought a new position in Coty in the second quarter worth $25,000. Institutional investors own 42.36% of the company’s stock.

Coty News Summary

Here are the key news stories impacting Coty this week:

• Neutral Sentiment: At its November 5 annual meeting, Coty stockholders elected all nine director nominees and approved compensation proposals. The routine governance update provides no clear near-term earnings catalyst. Coty Stockholders Approve Directors and Compensation Proposals
• Neutral Sentiment: Coty plans to restructure its business in France. The move could improve efficiency, but without details on implementation, costs, or projected savings, its financial impact is uncertain. Beauty firm Coty to restructure its business in France
• Negative Sentiment: Barclays raised its price target to $3 from $2 but maintained an Underweight rating. The target remains below the cited share price, signaling that the bank sees downside despite the increase. Barclays price-target update

Coty Stock Performance

Coty stock opened at $4.33 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $3.81 billion, a P/E ratio of 16.88, a PEG ratio of 0.65 and a beta of 0.83. The stock’s 50 day moving average is $3.00 and its 200 day moving average is $2.56. Coty has a twelve month low of $1.82 and a twelve month high of $4.36.

Coty (NYSE:COTY) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Coty had a positive return on equity of 7.11% and a negative net margin of 9.74%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Coty will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen raised Coty from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.60 target price on shares of Coty in a research report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $3.00 price target on shares of Coty in a research note on Friday, August 21st. Jefferies Financial Group lifted their price target on shares of Coty from $2.40 to $2.95 and gave the company a “buy” rating in a research report on Monday, October 19th. Finally, TD Cowen began coverage on shares of Coty in a research report on Friday, October 30th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $3.35.

Coty Company Profile

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company’s brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.