Ieq Capital LLC Invests $1.30 Million in Coty $COTY

Key Points

• Ieq Capital LLC made a new investment in Coty by acquiring 237,832 shares worth approximately $1,301,000 during the 1st quarter.
• Coty reported a quarterly earnings per share of ($0.05), missing analysts' expectations, and reported a revenue of $1.25 billion.
• Recent analyst ratings have lowered target prices for Coty, with estimates falling as low as $3.50 and a consensus rating of "Hold".

Ieq Capital LLC bought a new position in shares of Coty (NYSE:COTY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 237,832 shares of the company's stock, valued at approximately $1,301,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake 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 purchasing an additional 3,214 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in 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 buying an additional 6,644 shares during the last quarter. Callan Capital LLC purchased a new stake in Coty during the 1st quarter worth about $56,000. Impact Capital Partners LLC purchased a new stake in Coty during the 1st quarter worth about $61,000. Finally, Signaturefd LLC lifted its holdings in Coty by 607.0% during the 1st quarter. Signaturefd LLC now owns 13,376 shares of the company's stock worth $73,000 after buying an additional 11,484 shares during the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays decreased their price target on Coty from $4.50 to $3.50 and set an "underweight" rating for the company in a report on Friday, August 22nd. Bank of America decreased 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. Royal Bank Of Canada decreased their price target on Coty from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Friday, August 22nd. The Goldman Sachs Group decreased their price target on Coty from $6.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, August 22nd. Finally, Morgan Stanley decreased their price target on Coty from $5.00 to $4.25 and set an "equal weight" rating for the company in a report on Monday, August 25th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Coty presently has an average rating of "Hold" and a consensus target price of $6.19.

Insider Buying and Selling

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

Coty Stock Performance

COTY traded down $0.03 on Friday, hitting $4.36. 10,476,290 shares of the company traded hands, compared to its average volume of 12,627,072. The company has a 50 day moving average of $4.75 and a 200-day moving average of $5.01. 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 capitalization of $3.80 billion, a PE ratio of -9.90, a PEG ratio of 0.40 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 posted its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.20 billion. Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The firm's revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. Sell-side analysts anticipate that Coty will post 0.39 earnings per share for the current 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.