40,173 Shares in Coty Inc. (NYSE:COTY) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new position in shares of Coty Inc. (NYSE:COTY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 40,173 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds have also recently bought and sold shares of COTY. Steward Partners Investment Advisory LLC grew its holdings in Coty by 317.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock worth $29,000 after acquiring an additional 3,186 shares during the period. Allworth Financial LP increased its stake in Coty by 145.0% in the 4th quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock worth $42,000 after purchasing an additional 3,328 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Coty by 55.3% in the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after purchasing an additional 2,601 shares in the last quarter. Impact Capital Partners LLC purchased a new position in Coty in the 1st quarter worth about $61,000. Finally, US Bancorp DE increased its stake in Coty by 116.0% in the 4th quarter. US Bancorp DE now owns 9,473 shares of the company’s stock worth $66,000 after purchasing an additional 5,088 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler dropped their price target on Coty from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Berenberg Bank assumed coverage on Coty in a research note on Tuesday, March 25th. They issued a “buy” rating and a $7.50 price target on the stock. Stifel Nicolaus dropped their price target on Coty from $8.00 to $6.50 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Bank of America cut Coty from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $9.00 to $4.50 in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada dropped their price target on Coty from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.80.

Coty Stock Down 5.9%

Shares of Coty stock opened at $4.74 on Friday. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -473.50, a P/E/G ratio of 0.81 and a beta of 1.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45. Coty Inc. has a 52-week low of $4.46 and a 52-week high of $10.54. The stock has a 50-day simple moving average of $4.96 and a 200-day simple moving average of $5.96.

Coty (NYSE:COTY) last announced its quarterly earnings results 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). The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Coty had a net margin of 0.22% and a return on equity of 6.34%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, equities research analysts expect that Coty Inc. will post 0.39 earnings per share for the current fiscal year.

About Coty

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.