Coty Inc. (NYSE:COTY) Short Interest Update

Coty Inc. (NYSE:COTYGet Rating) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 19,810,000 shares, a decrease of 15.2% from the June 30th total of 23,360,000 shares. Approximately 4.5% of the company’s stock are sold short. Based on an average trading volume of 8,760,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on COTY. Deutsche Bank Aktiengesellschaft dropped their price target on Coty from $12.00 to $11.00 in a research note on Tuesday, May 10th. Barclays dropped their price target on Coty from $10.00 to $8.00 in a research note on Wednesday, May 11th. Raymond James dropped their price target on Coty from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Piper Sandler initiated coverage on Coty in a research note on Thursday, June 30th. They set a “neutral” rating and a $8.00 price target on the stock. Finally, StockNews.com raised Coty from a “hold” rating to a “buy” rating in a research report on Sunday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.85.

Insider Activity

In other Coty news, Director Olivier Goudet acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were acquired at an average price of $6.45 per share, for a total transaction of $645,000.00. Following the acquisition, the director now owns 739,129 shares in the company, valued at approximately $4,767,382.05. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Coty

Several hedge funds have recently modified their holdings of COTY. Clearbridge Investments LLC increased its stake in Coty by 123.3% in the 1st quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after purchasing an additional 9,311,527 shares in the last quarter. BlackRock Inc. increased its stake in Coty by 20.0% in the 1st quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after purchasing an additional 7,760,564 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Coty by 119.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,312,124 shares of the company’s stock valued at $74,726,000 after purchasing an additional 4,525,332 shares in the last quarter. Vanguard Group Inc. increased its stake in Coty by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 34,950,784 shares of the company’s stock valued at $314,208,000 after purchasing an additional 4,092,581 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Coty in the 1st quarter valued at approximately $27,657,000. 37.60% of the stock is owned by institutional investors and hedge funds.

Coty Stock Up 1.0 %

COTY opened at $7.40 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.69 and a quick ratio of 0.49. The business has a 50 day simple moving average of $7.42 and a 200-day simple moving average of $8.01. The stock has a market capitalization of $6.21 billion, a P/E ratio of 49.34 and a beta of 2.00. Coty has a 12 month low of $5.90 and a 12 month high of $11.12.

Coty (NYSE:COTYGet Rating) last posted 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. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Coty had a return on equity of 6.85% and a net margin of 3.93%. Coty’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Coty will post 0.27 earnings per share for the current fiscal year.

About Coty

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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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