Wells Fargo & Company MN decreased its holdings in shares of Coty Inc (NYSE:COTY) by 11.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 942,455 shares of the company’s stock after selling 121,233 shares during the quarter. Wells Fargo & Company MN’s holdings in Coty were worth $13,288,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Coty during the first quarter worth about $105,000. Rothschild Investment Corp IL acquired a new stake in shares of Coty during the second quarter worth about $159,000. Crawford Investment Counsel Inc. acquired a new stake in shares of Coty during the first quarter worth about $184,000. IBM Retirement Fund acquired a new stake in shares of Coty during the first quarter worth about $188,000. Finally, TLP Group LLC acquired a new stake in shares of Coty during the first quarter worth about $224,000. Institutional investors and hedge funds own 66.92% of the company’s stock.
In related news, Director Robert S. Singer bought 20,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was bought at an average cost of $11.50 per share, with a total value of $230,000.00. Following the completion of the acquisition, the director now owns 175,000 shares in the company, valued at approximately $2,012,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was bought at an average cost of $12.29 per share, with a total value 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 approximately $3,578,086,523.89. The disclosure for this purchase can be found here. Insiders have purchased 3,655,000 shares of company stock valued at $44,583,400 over the last three months. 1.00% of the stock is currently owned by corporate insiders.
NYSE COTY opened at $12.04 on Wednesday. The stock has a market cap of $9.28 billion, a P/E ratio of 17.91, a PEG ratio of 1.64 and a beta of 0.21. Coty Inc has a 52-week low of $10.73 and a 52-week high of $21.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.62.
Coty (NYSE:COTY) last posted its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. sell-side analysts predict that Coty Inc will post 0.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.50 annualized dividend and a yield of 4.15%. Coty’s dividend payout ratio is currently 72.46%.
COTY has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 10th. Wells Fargo & Co set a $15.00 target price on shares of Coty and gave the stock a “hold” rating in a research note on Wednesday, May 9th. ValuEngine downgraded shares of Coty from a “sell” rating to a “strong sell” rating in a research note on Friday, May 11th. Morgan Stanley upgraded shares of Coty from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $17.00 to $14.50 in a research note on Tuesday, August 28th. Finally, Societe Generale downgraded shares of Coty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.40.
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.
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