Bank of New York Mellon Corp Reduces Stock Position in Coty (NYSE:COTY)

Bank of New York Mellon Corp trimmed its position in shares of Coty (NYSE:COTY - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,951,866 shares of the company's stock after selling 87,518 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of Coty worth $16,147,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Coty by 140.2% during the 1st quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $30,000 after buying an additional 3,214 shares during the period. Quadrant Capital Group LLC raised its holdings in Coty by 55.3% during 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 during the last quarter. Impact Capital Partners LLC bought a new position in Coty during the 1st quarter worth approximately $61,000. Scotia Capital Inc. bought a new position in Coty during the 4th quarter worth approximately $70,000. Finally, Neuberger Berman Group LLC bought a new position in Coty during the 4th quarter worth approximately $84,000. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Coty from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Raymond James Financial downgraded shares of Coty from an "outperform" rating to a "market perform" rating in a report on Thursday, April 17th. BNP Paribas cut Coty from an "outperform" rating to a "neutral" rating and set a $5.65 price objective on the stock. in a research note on Friday, April 11th. Finally, Barclays lowered their price objective on Coty from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Coty currently has an average rating of "Hold" and a consensus target price of $7.80.

Coty Stock Up 1.5%

COTY traded up $0.08 during trading on Wednesday, reaching $5.09. The stock had a trading volume of 6,800,400 shares, compared to its average volume of 6,478,154. The stock's 50 day moving average is $4.92 and its two-hundred day moving average is $5.50. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -10.59, a P/E/G ratio of 0.68 and a beta of 1.91. Coty has a one year low of $4.46 and a one year high of $10.30.

Coty (NYSE:COTY - Get Free Report) last announced its 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). Coty had a positive return on equity of 5.61% and a negative net margin of 6.60%. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the previous year, the business posted $0.05 earnings per share. The company's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts expect that Coty will post 0.39 earnings per share for the current year.

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 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.