Coty (COTY) Shares Down 1.6% Following Analyst Downgrade

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Coty Inc (NYSE:COTY) shares fell 1.6% during trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $23.00 to $18.00. Royal Bank of Canada currently has an outperform rating on the stock. Coty traded as low as $8.36 and last traded at $8.52. 356,836 shares traded hands during trading, a decline of 95% from the average session volume of 7,153,487 shares. The stock had previously closed at $8.66.

Several other research analysts have also commented on the company. Wells Fargo & Co cut their price target on Coty from $11.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday. Jefferies Financial Group set a $10.00 target price on Coty and gave the company a “hold” rating in a report on Wednesday. Morgan Stanley lowered Coty from an “overweight” rating to a “hold” rating and dropped their target price for the company from $14.50 to $10.00 in a report on Wednesday. JPMorgan Chase & Co. set a $11.00 target price on Coty and gave the company a “sell” rating in a report on Friday, September 7th. Finally, Citigroup dropped their target price on Coty from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.95.

In other Coty news, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the completion of the purchase, the insider now directly owns 291,138,041 shares in the company, valued at $3,578,086,523.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Singer purchased 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 175,000 shares of the company’s stock, valued at $2,100,000. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,655,000 shares of company stock worth $44,583,400. Corporate insiders own 1.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Rothschild Investment Corp IL purchased a new stake in shares of Coty in the second quarter valued at approximately $159,000. ING Groep NV purchased a new stake in shares of Coty in the third quarter valued at approximately $218,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Coty in the third quarter valued at approximately $226,000. Intact Investment Management Inc. purchased a new stake in shares of Coty in the second quarter valued at approximately $230,000. Finally, Caption Management LLC purchased a new stake in shares of Coty in the second quarter valued at approximately $254,000. Hedge funds and other institutional investors own 64.12% of the company’s stock.

The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.45 and a beta of 0.47.

Coty (NYSE:COTY) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts forecast that Coty Inc will post 0.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 5.89%. Coty’s payout ratio is 72.46%.

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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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