Jacobs Levy Equity Management Inc. Purchases 275,126 Shares of Coty $COTY

Key Points

• Jacobs Levy Equity Management Inc. has significantly increased its position in Coty by 174.7%, owning 432,639 shares valued at $2.37 million after purchasing 275,126 additional shares in the first quarter.
• Coty reported a loss of $0.05 per share for its quarterly earnings, missing analysts' expectations, despite revenue of $1.25 billion, which exceeded estimates of $1.20 billion.
• Insider purchases have been notable, with CFO Laurent Mercier buying 12,500 shares at $3.96 each, indicating increased confidence in the company's future.

Jacobs Levy Equity Management Inc. raised its holdings in Coty (NYSE:COTY - Free Report) by 174.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 432,639 shares of the company's stock after purchasing an additional 275,126 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Coty were worth $2,367,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Coty by 140.2% in the 1st quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock valued at $30,000 after purchasing an additional 3,214 shares during the period. Caitong International Asset Management Co. Ltd raised its position 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 buying an additional 6,644 shares in the last quarter. Callan Capital LLC acquired a new position in shares of Coty in the 1st quarter valued at approximately $56,000. Impact Capital Partners LLC acquired a new position in shares of Coty in the 1st quarter valued at approximately $61,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Coty in the 4th quarter valued at approximately $84,000. Institutional investors own 42.36% of the company's stock.

Insider Activity

In other news, insider Kristin Blazewicz acquired 29,400 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $4.30 per share, for a total transaction of $126,420.00. Following the completion of the transaction, the insider directly owned 829,142 shares in the company, valued at $3,565,310.60. This represents a 3.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Laurent Mercier acquired 12,500 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $3.96 per share, with a total value of $49,500.00. Following the completion of the transaction, the chief financial officer owned 402,216 shares of the company's stock, valued at $1,592,775.36. This trade represents a 3.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 334,900 shares of company stock valued at $1,321,840. 6.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COTY. Canaccord Genuity Group dropped their target price on shares of Coty from $5.00 to $4.00 and set a "hold" rating for the company in a research report on Friday, August 22nd. Evercore ISI lowered their price objective on shares of Coty from $10.00 to $7.00 and set an "outperform" rating for the company in a research report on Thursday, August 21st. Cowen reiterated a "hold" rating on shares of Coty in a research report on Friday, August 22nd. The Goldman Sachs Group lowered their price objective on shares of Coty from $6.00 to $4.50 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Finally, Citigroup reiterated a "neutral" rating and set a $4.25 price objective (down from $6.50) on shares of Coty in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.06.

Coty Trading Down 1.1%

NYSE COTY traded down $0.05 on Friday, hitting $4.09. The company's stock had a trading volume of 4,369,828 shares, compared to its average volume of 13,156,009. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. Coty has a 1-year low of $3.67 and a 1-year high of $9.70. The company's 50-day moving average is $4.67 and its 200 day moving average is $4.96. The firm has a market cap of $3.56 billion, a PE ratio of -9.28, a PEG ratio of 0.38 and a beta of 2.07.

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

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.