Tidal Investments LLC Decreases Position in Coty Inc. (NYSE:COTY)

Tidal Investments LLC lowered its position in Coty Inc. (NYSE:COTY) by 41.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,180 shares of the company’s stock after selling 83,218 shares during the quarter. Tidal Investments LLC’s holdings in Coty were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Coty during the fourth quarter worth approximately $44,401,000. Amundi raised its stake in shares of Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after purchasing an additional 4,478,906 shares during the last quarter. Man Group plc purchased a new stake in shares of Coty during the fourth quarter worth approximately $28,473,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Coty during the fourth quarter worth approximately $19,663,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Coty by 12.1% during the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock worth $140,691,000 after purchasing an additional 2,175,120 shares during the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COTY. Stifel Nicolaus dropped their price objective on Coty from $8.00 to $6.50 and set a “hold” rating on the stock in a report on Thursday, April 10th. Bank of America lowered Coty from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $9.00 to $4.50 in a report on Tuesday, April 15th. Barclays dropped their price objective on Coty from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, April 11th. Citigroup dropped their price objective on Coty from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Berenberg Bank began coverage on Coty in a report on Tuesday, March 25th. They set a “buy” rating and a $7.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.80.

Coty Stock Down 2.9%

Shares of NYSE:COTY opened at $4.79 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85. Coty Inc. has a 52-week low of $4.46 and a 52-week high of $10.80. The stock’s fifty day simple moving average is $5.07 and its 200-day simple moving average is $6.17. The company has a market capitalization of $4.17 billion, a P/E ratio of -478.50, a P/E/G ratio of 0.81 and a beta of 1.90.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Coty had a net margin of 0.22% and a return on equity of 6.34%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Coty Inc. will post 0.39 earnings per share for the current fiscal year.

Coty 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 segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.