Goldman Sachs Group Inc. Sells 124,073 Shares of Coty $COTY

Key Points

• Goldman Sachs Group Inc. reduced its stake in investment Coty by 8.5%, selling 124,073 shares, and now owns approximately 1,331,106 shares worth $7.28 million.
• CEO Sue Nabi purchased 260,000 shares of Coty for $1.02 million, increasing her holding to over 32 million shares.
• Recent analyst ratings suggest a cautious outlook, with Royal Bank of Canada and Barclays lowering their price targets and ratings for Coty, indicating a challenging market environment.

Goldman Sachs Group Inc. lessened its stake in shares of Coty (NYSE:COTY - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,331,106 shares of the company's stock after selling 124,073 shares during the quarter. Goldman Sachs Group Inc. owned about 0.15% of Coty worth $7,281,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 3,214 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Coty by 1,006.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 7,304 shares of the company's stock worth $40,000 after purchasing an additional 6,644 shares during the last quarter. Callan Capital LLC acquired a new position in shares of Coty during the 1st quarter worth about $56,000. Impact Capital Partners LLC acquired a new position in shares of Coty during the 1st quarter worth about $61,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Coty during the 4th quarter worth about $84,000. Institutional investors own 42.36% of the company's stock.

Insider Buying and Selling

In related news, CEO Sue Nabi bought 260,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the acquisition, the chief executive officer owned 32,127,286 shares in the company, valued at approximately $125,938,961.12. This represents a 0.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Srinivasan bought 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $3.84 per share, with a total value of $115,200.00. Following the completion of the acquisition, the insider owned 37,509 shares in the company, valued at $144,034.56. This represents a 399.52% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 334,900 shares of company stock valued at $1,321,840. 6.00% of the stock is currently owned by corporate insiders.

Coty Trading Down 1.1%

Coty stock opened at $4.09 on Friday. The business has a 50 day moving average price of $4.67 and a two-hundred day moving average price of $4.96. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of -9.28, a price-to-earnings-growth ratio of 0.38 and a beta of 2.07. Coty has a 12 month low of $3.67 and a 12 month high of $9.70.

Coty (NYSE:COTY - Get Free Report) last issued its 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 analyst estimates of $1.20 billion. During the same period in the previous year, the company posted ($0.03) earnings per share. The company's quarterly revenue was down 8.1% on a year-over-year basis. As a group, equities analysts forecast that Coty will post 0.39 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank Of Canada cut their price objective on Coty from $12.00 to $10.00 and set a "sector perform" rating for the company in a research report on Friday, August 22nd. Barclays cut their price objective on Coty from $4.50 to $3.50 and set an "underweight" rating for the company in a research report on Friday, August 22nd. Jefferies Financial Group cut Coty from a "buy" rating to a "hold" rating and cut their price target for the company from $6.00 to $4.00 in a report on Thursday, August 21st. Bank of America cut their price target on Coty from $4.00 to $3.50 and set an "underperform" rating for the company in a report on Friday, August 22nd. Finally, Cowen reaffirmed a "hold" rating on shares of Coty in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Coty presently has an average rating of "Hold" and an average price target of $6.06.

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.

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