A number of other brokerages have also recently commented on COTY. Bank of America assumed coverage on Coty in a research note on Thursday, May 9th. They set a neutral rating and a $12.00 price objective on the stock. Jefferies Financial Group set a $11.00 price objective on Coty and gave the stock a hold rating in a research note on Wednesday, March 27th. Zacks Investment Research upgraded Forum Energy Technologies from a hold rating to a buy rating and set a $6.50 price target on the stock in a research note on Wednesday, March 6th. BMO Capital Markets boosted their price target on goeasy from C$55.00 to C$60.00 in a research note on Thursday, May 9th. Finally, Exane BNP Paribas assumed coverage on Coty in a research note on Tuesday, June 4th. They issued an outperform rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $12.77.
Shares of NYSE:COTY traded up $0.02 during midday trading on Thursday, reaching $11.07. The company’s stock had a trading volume of 4,961,145 shares, compared to its average volume of 6,648,441. The company’s 50 day moving average is $12.52. Coty has a 1 year low of $5.91 and a 1 year high of $14.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.95. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.45 and a beta of 0.70.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Wednesday, June 5th. Coty’s dividend payout ratio (DPR) is presently 72.46%.
In related news, Director Peter Harf bought 309,222 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $13.04 per share, with a total value of $4,032,254.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdco B.V. Cottage bought 150,000,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $11.65 per share, with a total value of $1,747,500,000.00. The disclosure for this purchase can be found here. Insiders have bought 156,808,896 shares of company stock valued at $1,827,304,250 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of COTY. Bank of New York Mellon Corp grew its holdings in Coty by 36.4% in the 4th quarter. Bank of New York Mellon Corp now owns 33,881,957 shares of the company’s stock worth $222,265,000 after buying an additional 9,045,935 shares in the last quarter. Norges Bank acquired a new stake in Coty in the fourth quarter worth approximately $36,720,000. FMR LLC lifted its position in Coty by 7.9% in the fourth quarter. FMR LLC now owns 63,208,973 shares of the company’s stock worth $414,651,000 after purchasing an additional 4,636,912 shares during the period. OppenheimerFunds Inc. lifted its position in Coty by 3,576.5% in the first quarter. OppenheimerFunds Inc. now owns 3,791,689 shares of the company’s stock worth $43,604,000 after purchasing an additional 3,688,556 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Coty by 57.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,578,515 shares of the company’s stock worth $49,713,000 after purchasing an additional 2,759,305 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.
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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