Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Coty Inc. (NYSE:COTY)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Coty Inc. (NYSE:COTY – Get Rating) by 23.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 991,097 shares of the company’s stock after selling 305,739 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coty were worth $8,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its position in shares of Coty by 197.8% during the fourth quarter. CWM LLC now owns 4,681 shares of the company’s stock worth $40,000 after purchasing an additional 3,109 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Coty by 126.2% during the first quarter. Captrust Financial Advisors now owns 8,400 shares of the company’s stock worth $76,000 after purchasing an additional 4,686 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Coty by 335.5% during the third quarter. Lazard Asset Management LLC now owns 10,840 shares of the company’s stock worth $68,000 after purchasing an additional 8,351 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Coty during the first quarter worth approximately $104,000. Finally, XTX Topco Ltd purchased a new stake in shares of Coty during the first quarter worth approximately $112,000. 37.10% of the stock is currently owned by hedge funds and other institutional investors.

Coty Stock Performance

Shares of Coty stock opened at $11.24 on Monday. Coty Inc. has a 52 week low of $5.90 and a 52 week high of $12.64. The business’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $10.04. The firm has a market cap of $9.59 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.85. The company has a quick ratio of 0.40, a current ratio of 0.69 and a debt-to-equity ratio of 1.08.

Coty (NYSE:COTY – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16. Coty had a return on equity of 12.81% and a net margin of 3.55%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $0.03 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Coty Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

COTY has been the subject of several research reports. Piper Sandler boosted their price target on Coty from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. StockNews.com upgraded Coty from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Coty in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coty from $12.00 to $13.00 in a research note on Tuesday, May 2nd. Finally, Citigroup began coverage on Coty in a research note on Thursday, February 16th. They set a “neutral” rating and a $15.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Coty currently has an average rating of “Moderate Buy” and an average target price of $12.44.

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.