Coty $COTY Stock Position Boosted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Coty by 28.8%, acquiring an additional 393,971 shares, bringing its total ownership to approximately $9.6 million.
• Several other institutional investors also increased their positions, with 42.36% of Coty stock currently held by institutional investors and hedge funds.
• Analyst ratings for Coty have been mostly negative, with major firms like Bank of America and Wells Fargo reducing their price targets, resulting in a consensus target price of $6.34.

Invesco Ltd. boosted its holdings in shares of Coty (NYSE:COTY - Free Report) by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,761,954 shares of the company's stock after acquiring an additional 393,971 shares during the period. Invesco Ltd. owned about 0.20% of Coty worth $9,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Coty by 270.4% during the first quarter. Janney Montgomery Scott LLC now owns 142,219 shares of the company's stock worth $778,000 after acquiring an additional 103,828 shares during the last quarter. Compass Wealth Management LLC raised its position in Coty by 33.2% during the first quarter. Compass Wealth Management LLC now owns 623,325 shares of the company's stock worth $3,410,000 after acquiring an additional 155,450 shares during the last quarter. Graphene Investments SAS raised its position in Coty by 36.0% during the first quarter. Graphene Investments SAS now owns 518,300 shares of the company's stock worth $2,835,000 after acquiring an additional 137,100 shares during the last quarter. Two Sigma Investments LP raised its position in Coty by 490.7% during the fourth quarter. Two Sigma Investments LP now owns 827,903 shares of the company's stock worth $5,762,000 after acquiring an additional 687,756 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Coty during the first quarter worth about $3,045,000. Institutional investors and hedge funds own 42.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on COTY. Citigroup reaffirmed a "neutral" rating and set a $4.25 price target (down previously from $6.50) on shares of Coty in a research report on Thursday, August 21st. Wells Fargo & Company decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Coty from $5.00 to $4.25 and set an "equal weight" rating for the company in a research note on Monday. Bank of America decreased their price objective on shares of Coty from $4.00 to $3.50 and set an "underperform" rating for the company in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada decreased their price objective on shares of Coty from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Friday, August 22nd. Four investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.19.

Coty Stock Down 1.7%

Shares of COTY stock traded down $0.08 on Friday, hitting $4.26. The stock had a trading volume of 7,079,123 shares, compared to its average volume of 8,287,797. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -9.69, a P/E/G ratio of 0.38 and a beta of 2.00. The stock's 50 day moving average is $4.79 and its 200-day moving average is $5.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 0.77. Coty has a 52-week low of $3.67 and a 52-week high of $9.70.

Coty (NYSE:COTY - Get Free Report) last announced its earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $1.25 billion during 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%. Coty's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, research analysts expect that Coty will post 0.39 earnings per share for the current year.

Insider Activity at Coty

In related news, CEO Sue Nabi purchased 260,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the completion of the acquisition, the chief executive officer directly owned 32,127,286 shares of the company's stock, valued at approximately $125,938,961.12. The trade was a 0.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Priya Srinivasan purchased 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $3.84 per share, for a total transaction of $115,200.00. Following the completion of the acquisition, the insider directly owned 37,509 shares of the company's stock, valued at $144,034.56. This represents a 399.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 305,500 shares of company stock valued at $1,195,420 over the last ninety days. Corporate insiders own 6.00% of the company's stock.

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.