Mutual of America Capital Management LLC decreased its position in shares of Coty Inc. (NYSE:COTY – Get Rating) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,842 shares of the company’s stock after selling 25,792 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Coty were worth $2,306,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Washington Trust Advisors Inc. boosted its stake in shares of Coty by 78.4% during the 2nd quarter. Washington Trust Advisors Inc. now owns 3,714 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Coty by 90.9% during the 2nd quarter. Fifth Third Bancorp now owns 4,419 shares of the company’s stock worth $36,000 after acquiring an additional 2,104 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Coty by 323.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,968 shares of the company’s stock worth $56,000 after acquiring an additional 5,324 shares in the last quarter. US Bancorp DE boosted its stake in shares of Coty by 48.3% during the 2nd quarter. US Bancorp DE now owns 7,147 shares of the company’s stock worth $58,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Coty during the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 37.45% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently commented on COTY. Wells Fargo & Company decreased their price target on Coty from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, October 3rd. Morgan Stanley reduced their target price on Coty from $9.00 to $8.25 and set an “equal weight” rating on the stock in a research note on Tuesday, October 11th. Raymond James reduced their target price on Coty from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, August 15th. Bank of America initiated coverage on Coty in a research note on Wednesday, September 14th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Coty from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Coty has a consensus rating of “Moderate Buy” and a consensus price target of $10.08.
Coty Trading Up 1.2 %
Coty (NYSE:COTY – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coty had a return on equity of 9.47% and a net margin of 2.92%. Coty’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts forecast that Coty Inc. will post 0.32 EPS for the current year.
Insider Buying and Selling at Coty
In other Coty news, Director Olivier Goudet purchased 100,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was bought at an average cost of $7.61 per share, for a total transaction of $761,000.00. Following the acquisition, the director now owns 1,039,129 shares of the company’s stock, valued at approximately $7,907,771.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by insiders.
Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.
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