Mirae Asset Global Investments Co. Ltd. Makes New $13.12 Million Investment in Coty Inc. (NYSE:COTY)

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Coty Inc. (NYSE:COTYGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,459,725 shares of the company’s stock, valued at approximately $13,123,000. Mirae Asset Global Investments Co. Ltd. owned 0.17% of Coty at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in shares of Coty by 10.2% in the 1st quarter. New York State Common Retirement Fund now owns 478,449 shares of the company’s stock valued at $4,301,000 after acquiring an additional 44,117 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Coty by 1.3% in the 1st quarter. HighTower Advisors LLC now owns 717,709 shares of the company’s stock valued at $6,476,000 after acquiring an additional 9,252 shares during the last quarter. Keebeck Alpha LP purchased a new position in shares of Coty in the 1st quarter valued at about $103,000. Stonehage Fleming Financial Services Holdings Ltd increased its holdings in shares of Coty by 100.0% in the 1st quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 80,000 shares of the company’s stock valued at $719,000 after acquiring an additional 40,000 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Coty in the 1st quarter valued at about $310,000. Hedge funds and other institutional investors own 37.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COTY. Raymond James decreased their target price on Coty from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. Wells Fargo & Company upped their target price on Coty from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. StockNews.com cut Coty from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Piper Sandler initiated coverage on Coty in a research report on Thursday, June 30th. They issued a “neutral” rating and a $8.00 target price for the company. Finally, Bank of America initiated coverage on Coty in a research report on Wednesday, September 14th. They set a “buy” rating and a $12.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Coty Stock Up 1.7 %

COTY opened at $7.82 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.40. The business has a 50 day simple moving average of $7.60 and a 200-day simple moving average of $7.71. The stock has a market capitalization of $6.56 billion, a P/E ratio of 97.76, a P/E/G ratio of 1.51 and a beta of 1.94. Coty Inc. 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 Thursday, August 25th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Coty had a return on equity of 8.41% and a net margin of 2.45%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned ($0.09) EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Coty Inc. will post 0.31 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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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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