Coty Inc (NYSE:COTY) Major Shareholder Holdco B.V. Cottage Buys 150,000,000 Shares

Coty Inc (NYSE:COTY) major shareholder Holdco B.V. Cottage bought 150,000,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average price of $11.65 per share, with a total value of $1,747,500,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of NYSE:COTY traded up $0.26 during trading on Friday, reaching $13.50. The stock had a trading volume of 20,666,400 shares, compared to its average volume of 15,769,930. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.95. Coty Inc has a 52 week low of $5.91 and a 52 week high of $14.87. The firm has a market cap of $9.98 billion, a P/E ratio of 19.57, a P/E/G ratio of 3.05 and a beta of 0.88.

Coty (NYSE:COTY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Coty had a negative net margin of 13.20% and a positive return on equity of 5.78%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm posted $0.13 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Coty Inc will post 0.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, June 5th. Coty’s dividend payout ratio is currently 72.46%.

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Coty by 7.9% during the 4th quarter. FMR LLC now owns 63,208,973 shares of the company’s stock valued at $414,651,000 after acquiring an additional 4,636,912 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Coty by 36.4% during the 4th quarter. Bank of New York Mellon Corp now owns 33,881,957 shares of the company’s stock valued at $222,265,000 after acquiring an additional 9,045,935 shares during the period. BlackRock Inc. lifted its position in shares of Coty by 1.8% during the 1st quarter. BlackRock Inc. now owns 31,892,606 shares of the company’s stock valued at $366,764,000 after acquiring an additional 572,108 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Coty by 27.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,669,621 shares of the company’s stock valued at $111,202,000 after acquiring an additional 2,091,106 shares during the period. Finally, MSD Partners L.P. lifted its position in shares of Coty by 15.7% during the 4th quarter. MSD Partners L.P. now owns 6,750,297 shares of the company’s stock valued at $44,282,000 after acquiring an additional 913,572 shares during the period. Institutional investors own 66.05% of the company’s stock.

COTY has been the topic of several research reports. Zacks Investment Research raised shares of Coty from a “sell” rating to a “hold” rating in a report on Friday, January 18th. JPMorgan Chase & Co. lifted their price target on shares of Coty to $10.00 and gave the company a “neutral” rating in a report on Monday, February 11th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Coty in a report on Tuesday, March 5th. ValuEngine raised shares of Coty from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Finally, Citigroup lowered shares of Coty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $12.00 in a report on Tuesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Coty has a consensus rating of “Hold” and an average target price of $12.50.

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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.

Further Reading: Dividend

Insider Buying and Selling by Quarter for Coty (NYSE:COTY)

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