Arizona State Retirement System grew its position in shares of Coty Inc. (NYSE:COTY – Get Rating) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,499 shares of the company’s stock after buying an additional 6,025 shares during the quarter. Arizona State Retirement System’s holdings in Coty were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in shares of Coty during the 4th quarter worth approximately $41,000. Atlas Capital Advisors LLC bought a new position in shares of Coty during the 4th quarter worth approximately $52,000. Stephens Inc. AR bought a new position in shares of Coty during the 4th quarter worth approximately $113,000. Modera Wealth Management LLC purchased a new stake in shares of Coty during the 4th quarter worth approximately $121,000. Finally, Aire Advisors LLC purchased a new stake in shares of Coty during the 4th quarter worth approximately $153,000. Institutional investors own 37.60% of the company’s stock.
Insider Transactions at Coty
In related news, Director Olivier Goudet acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was bought at an average cost of $6.45 per share, with a total value of $645,000.00. Following the acquisition, the director now owns 739,129 shares of the company’s stock, valued at approximately $4,767,382.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.
Coty Stock Up 1.0 %
Coty (NYSE:COTY – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Coty had a net margin of 3.93% and a return on equity of 6.85%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coty’s revenue was up 15.4% on a year-over-year basis. Analysts anticipate that Coty Inc. will post 0.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Raymond James decreased their price target on shares of Coty from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. StockNews.com upgraded shares of Coty from a “hold” rating to a “buy” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Coty from $12.00 to $11.00 in a research note on Tuesday, May 10th. Barclays decreased their price target on shares of Coty from $10.00 to $8.00 in a research note on Wednesday, May 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coty from $10.00 to $8.00 in a research note on Tuesday, May 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Coty has a consensus rating of “Moderate Buy” and a consensus target price of $10.85.
Coty Company Profile
Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.
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