Caisse Des Depots ET Consignations Sells 173,869 Shares of Coty (NYSE:COTY)

Key Points

• Caisse Des Depots ET Consignations sold 173,869 shares of Coty, reducing its holdings by 6.0%, now owning 2.7 million shares, accounting for approximately 0.7% of its investment portfolio.
• Vanguard Group Inc. and other large investors increased their stakes in Coty, with Vanguard now holding over 37 million shares worth approximately $206 million.
• Coty reported a earnings per share (EPS) of $0.01 for the last quarter, falling short of estimates and indicating a 6.2% decline in revenue year-over-year.

Caisse Des Depots ET Consignations trimmed its position in Coty (NYSE:COTY - Free Report) by 6.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,700,000 shares of the company's stock after selling 173,869 shares during the period. Coty accounts for approximately 0.7% of Caisse Des Depots ET Consignations' investment portfolio, making the stock its 19th biggest position. Caisse Des Depots ET Consignations owned 0.31% of Coty worth $14,659,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COTY. Vanguard Group Inc. increased its holdings in Coty by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock worth $205,921,000 after purchasing an additional 2,055,771 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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. Dimensional Fund Advisors LP increased its stake in shares of Coty by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company's stock valued at $92,697,000 after buying an additional 1,569,315 shares during the period. Millennium Management LLC increased its stake in shares of Coty by 58.7% in the fourth quarter. Millennium Management LLC now owns 4,585,632 shares of the company's stock valued at $31,916,000 after buying an additional 1,695,358 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Coty by 162.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company's stock valued at $23,523,000 after buying an additional 2,660,221 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on COTY shares. Canaccord Genuity Group reissued a "hold" rating and set a $5.00 target price (down from $8.00) on shares of Coty in a report on Thursday, May 8th. Bank of America cut shares of Coty from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $9.00 to $4.50 in a research note on Tuesday, April 15th. Raymond James Financial lowered Coty from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 17th. 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 report on Thursday, May 8th. Finally, Wells Fargo & Company reiterated a "positive" rating on shares of Coty in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coty presently has an average rating of "Hold" and an average target price of $7.80.

Coty Trading Down 1.9%

Shares of Coty stock opened at $4.81 on Friday. The stock has a market capitalization of $4.19 billion, a PE ratio of -10.01, a price-to-earnings-growth ratio of 0.67 and a beta of 2.00. Coty has a 52 week low of $4.46 and a 52 week high of $10.30. The stock has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $5.35. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.51 and a current ratio of 0.82.

Coty (NYSE:COTY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. Coty had a positive return on equity of 5.61% and a negative net margin of 6.60%. Coty's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities analysts anticipate that Coty will post 0.39 earnings per share for the current fiscal 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.

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