Coty $COTY Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its stake in Coty by 1.8%, selling 614,104 shares in the first quarter, while maintaining ownership of approximately 34.2 million shares valued at $187 million.
• Several hedge funds have adjusted their positions in Coty, with American Alpha Advisors increasing its holdings by 22.4% during the same period.
• Coty recently missed earnings expectations, reporting a loss of ($0.05) per share, significantly lower than the expected profit, while also generating revenue of $1.25 billion for the quarter.

BNP Paribas Financial Markets lessened its holdings in Coty (NYSE:COTY - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,193,031 shares of the company's stock after selling 614,104 shares during the period. BNP Paribas Financial Markets owned about 3.92% of Coty worth $187,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Coty by 140.2% in the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $30,000 after buying an additional 3,214 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Coty by 1,006.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 7,304 shares of the company's stock valued at $40,000 after acquiring an additional 6,644 shares during the period. Callan Capital LLC bought a new position in shares of Coty in the 1st quarter worth $56,000. Impact Capital Partners LLC bought a new position in shares of Coty in the 1st quarter worth $61,000. Finally, Signaturefd LLC lifted its stake in shares of Coty by 607.0% during the 1st quarter. Signaturefd LLC now owns 13,376 shares of the company's stock worth $73,000 after purchasing an additional 11,484 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Priya Srinivasan purchased 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $3.84 per share, with a total value of $115,200.00. Following the transaction, the insider owned 37,509 shares in the company, valued at $144,034.56. The trade was a 399.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laurent Mercier purchased 12,500 shares of the company's stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $3.96 per share, for a total transaction of $49,500.00. Following the purchase, the chief financial officer owned 402,216 shares in the company, valued at approximately $1,592,775.36. The trade was a 3.21% increase in their position. The disclosure for this purchase can be found here. Insiders bought 305,500 shares of company stock worth $1,195,420 in the last 90 days. Insiders own 6.00% of the company's stock.

Coty Stock Performance

COTY stock traded down $0.06 during trading on Monday, reaching $4.28. The company had a trading volume of 12,842,539 shares, compared to its average volume of 12,400,044. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -9.72, a price-to-earnings-growth ratio of 0.39 and a beta of 2.07. Coty has a twelve month low of $3.67 and a twelve month high of $9.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 0.77. The firm has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $5.05.

Coty (NYSE:COTY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). Coty had a positive return on equity of 5.18% and a negative net margin of 6.24%.The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the business posted ($0.03) EPS. The company's quarterly revenue was down 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Coty will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COTY. JPMorgan Chase & Co. cut their target price on Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Canaccord Genuity Group cut their price objective on shares of Coty from $5.00 to $4.00 and set a "hold" rating on the stock in a research report on Friday, August 22nd. Barclays reduced their price objective on shares of Coty from $4.50 to $3.50 and set an "underweight" rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company lowered their target price on shares of Coty from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada reduced their price target on Coty from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.19.

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.