Strs Ohio Grows Position in Coty Inc (COTY)
Strs Ohio grew its stake in shares of Coty Inc (NYSE:COTY) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,893 shares of the company’s stock after acquiring an additional 20,053 shares during the period. Strs Ohio’s holdings in Coty were worth $550,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in shares of Coty by 31.5% during the second quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after purchasing an additional 13,121,191 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Coty by 5.9% during the third quarter. State of Alaska Department of Revenue now owns 153,893 shares of the company’s stock worth $1,932,000 after purchasing an additional 8,519 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Coty by 33.1% during the third quarter. Bank of Montreal Can now owns 265,728 shares of the company’s stock worth $3,338,000 after purchasing an additional 66,105 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Coty during the third quarter worth about $1,004,000. Finally, Aperio Group LLC lifted its position in shares of Coty by 20.3% during the third quarter. Aperio Group LLC now owns 154,737 shares of the company’s stock worth $1,944,000 after purchasing an additional 26,136 shares during the last quarter. Hedge funds and other institutional investors own 66.98% of the company’s stock.
In related news, major shareholder Cosmetics B.V. Jab bought 5,400,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average price of $8.89 per share, with a total value of $48,006,000.00. Following the purchase, the insider now directly owns 294,508,041 shares of the company’s stock, valued at approximately $2,618,176,484.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer bought 45,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were bought at an average cost of $8.30 per share, with a total value of $373,500.00. Following the purchase, the director now directly owns 235,000 shares in the company, valued at $1,950,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,023,447 shares of company stock valued at $97,704,004 in the last three months. Company insiders own 1.20% of the company’s stock.
Coty (NYSE:COTY) last posted its quarterly earnings data on Friday, February 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Coty had a negative net margin of 13.58% and a positive return on equity of 5.38%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, research analysts forecast that Coty Inc will post 0.65 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Morgan Stanley set a $9.00 target price on shares of Coty and gave the stock a “hold” rating in a report on Thursday, December 20th. Royal Bank of Canada cut their target price on shares of Coty from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. Wells Fargo & Co cut their target price on shares of Coty from $11.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, November 7th. Citigroup set a $11.00 target price on shares of Coty and gave the stock a “buy” rating in a report on Friday, November 9th. Finally, Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a report on Monday, November 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.68.
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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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