Coty Inc (NYSE:COTY) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 75,347,405 shares, a growth of 8.7% from the July 31st total of 69,346,113 shares. Based on an average daily trading volume, of 7,017,148 shares, the short-interest ratio is presently 10.7 days. Approximately 16.7% of the shares of the stock are sold short.
Shares of Coty stock opened at $12.74 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.82. Coty has a twelve month low of $10.73 and a twelve month high of $21.68. The firm has a market capitalization of $9.10 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.61 and a beta of 0.28.
Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. The business’s quarterly revenue was up 2.6% on a year-over-year basis. sell-side analysts predict that Coty will post 0.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 3.92%. Coty’s dividend payout ratio is 72.46%.
In related news, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the stock in a transaction dated Tuesday, August 28th. The stock was bought at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the completion of the acquisition, the insider now owns 291,138,041 shares of the company’s stock, valued at $3,578,086,523.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert S. Singer purchased 20,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average price of $11.50 per share, with a total value of $230,000.00. Following the completion of the acquisition, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $2,012,500. The disclosure for this purchase can be found here. Insiders have bought 3,655,000 shares of company stock valued at $44,583,400 over the last quarter. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently modified their holdings of COTY. Andra AP fonden bought a new stake in Coty during the second quarter valued at $4,219,000. Global X Management Co LLC boosted its position in Coty by 78.7% during the second quarter. Global X Management Co LLC now owns 82,370 shares of the company’s stock valued at $1,161,000 after acquiring an additional 36,279 shares during the last quarter. Arbor Wealth Management LLC boosted its position in Coty by 2.5% during the second quarter. Arbor Wealth Management LLC now owns 271,386 shares of the company’s stock valued at $3,149,000 after acquiring an additional 6,747 shares during the last quarter. Vident Investment Advisory LLC boosted its position in Coty by 50.0% during the second quarter. Vident Investment Advisory LLC now owns 37,797 shares of the company’s stock valued at $533,000 after acquiring an additional 12,599 shares during the last quarter. Finally, Caption Management LLC bought a new stake in Coty during the second quarter valued at $254,000. 66.49% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on COTY. Consumer Edge upgraded shares of Coty from a “neutral” rating to an “outperform” rating in a report on Tuesday, May 8th. Berenberg Bank upgraded shares of Coty from a “sell” rating to a “hold” rating in a report on Thursday, May 10th. Wells Fargo & Co set a $15.00 price objective on shares of Coty and gave the stock a “hold” rating in a research note on Wednesday, May 9th. BMO Capital Markets reduced their price objective on shares of Coty to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, May 10th. Finally, Deutsche Bank cut shares of Coty from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Friday, May 11th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.40.
Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
See Also: Diversification
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