Jefferies Financial Group set a $10.00 price objective on Coty (NYSE:COTY) in a research note published on Wednesday morning. The brokerage currently has a hold rating on the stock. Jefferies Financial Group also issued estimates for Coty’s Q2 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.17 EPS, Q2 2020 earnings at $0.23 EPS and Q4 2020 earnings at $0.19 EPS.
A number of other brokerages have also issued reports on COTY. JPMorgan Chase & Co. decreased their price objective on Coty from $13.00 to $11.00 and set an underweight rating for the company in a report on Friday, August 10th. Morgan Stanley raised Coty from an equal weight rating to an overweight rating and decreased their price objective for the stock from $17.00 to $14.50 in a report on Tuesday, August 28th. Societe Generale lowered Coty from a buy rating to a hold rating in a report on Wednesday, August 22nd. BMO Capital Markets reissued a market perform rating and issued a $24.00 price objective on shares of Coty in a report on Wednesday, August 22nd. Finally, Wells Fargo & Co reissued a hold rating on shares of Coty in a report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $13.95.
COTY stock traded up $0.19 on Wednesday, reaching $8.49. The company’s stock had a trading volume of 15,129,248 shares, compared to its average volume of 8,334,474. Coty has a 52 week low of $8.29 and a 52 week high of $21.68. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.62.
Coty (NYSE:COTY) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Coty had a positive return on equity of 5.72% and a negative net margin of 1.75%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities analysts anticipate that Coty will post 0.7 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 $0.125 dividend. 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 dividend payout ratio (DPR) is 72.46%.
In other news, major shareholder Cosmetics B.V. Jab bought 1,030,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was purchased at an average cost of $11.98 per share, for a total transaction of $12,339,400.00. Following the completion of the transaction, the insider now directly owns 291,138,041 shares of the company’s stock, valued at approximately $3,487,833,731.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert S. Singer acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were bought at an average price of $12.00 per share, with a total value of $60,000.00. Following the transaction, the director now directly owns 175,000 shares in the company, valued at approximately $2,100,000. The disclosure for this purchase can be found here. Insiders acquired 3,655,000 shares of company stock valued at $44,583,400 over the last 90 days. 1.20% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Coty by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,726,595 shares of the company’s stock valued at $52,541,000 after acquiring an additional 135,658 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Coty by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 228,165 shares of the company’s stock valued at $3,217,000 after acquiring an additional 24,433 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in shares of Coty during the 2nd quarter valued at $2,657,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Coty during the 2nd quarter valued at $1,220,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Coty by 32.1% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 165,970 shares of the company’s stock valued at $2,340,000 after acquiring an additional 40,370 shares during the last quarter. Institutional investors own 64.12% of the company’s stock.
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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