Victory Capital Management Inc. Trims Stock Position in Coty Inc. (NYSE:COTY)

Victory Capital Management Inc. cut its stake in Coty Inc. (NYSE:COTY – Get Rating) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,776,380 shares of the company’s stock after selling 55,040 shares during the period. Victory Capital Management Inc.’s holdings in Coty were worth $30,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COTY. Credit Agricole S A acquired a new position in shares of Coty during the second quarter worth about $109,361,000. Clearbridge Investments LLC grew its position in Coty by 123.3% during the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock worth $151,598,000 after buying an additional 9,311,527 shares during the period. BlackRock Inc. grew its position in Coty by 20.0% during the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock worth $419,223,000 after buying an additional 7,760,564 shares during the period. BNP Paribas Arbitrage SA grew its position in Coty by 11,823.6% during the second quarter. BNP Paribas Arbitrage SA now owns 7,121,465 shares of the company’s stock worth $57,043,000 after buying an additional 7,061,739 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Coty by 119.5% in the first 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 during the last quarter. 37.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coty

In other news, Director Olivier Goudet acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were purchased at an average cost of $7.61 per share, for a total transaction of $761,000.00. Following the transaction, the director now directly owns 1,039,129 shares in the company, valued at approximately $7,907,771.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COTY shares. Piper Sandler raised shares of Coty from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a research note on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coty from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, December 6th. Barclays raised their price target on shares of Coty to $8.00 in a report on Tuesday, November 15th. Wells Fargo & Company raised their price objective on shares of Coty from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. Finally, StockNews.com began coverage on shares of Coty in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.97.

Coty Trading Up 1.8 %

Coty stock opened at $9.52 on Monday. The firm’s 50-day moving average is $8.33 and its 200-day moving average is $7.64. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.44 and a current ratio of 0.70. Coty Inc. has a 1 year low of $5.90 and a 1 year high of $10.02. The company has a market cap of $7.99 billion, a P/E ratio of 95.20, a PEG ratio of 2.09 and a beta of 1.83.

Coty (NYSE:COTY – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coty had a net margin of 2.92% and a return on equity of 9.47%. Coty’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. On average, equities analysts expect that Coty Inc. will post 0.32 earnings per share for the current year.

About Coty

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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focus on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.