Mackenzie Financial Corp Acquires Shares of 297,583 Coty (NYSE:COTY)

Key Points

• Mackenzie Financial Corp has acquired a new stake in Coty, purchasing 297,583 shares valued at approximately $1.6 million during the 1st quarter.
• Institutional investors and hedge funds collectively own 42.36% of Coty's stock, with several firms increasing their stakes in the company recently.
• Coty reported earnings per share of $0.01 for the last quarter, missing expectations, and saw a 6.2% year-over-year decline in revenue.

Mackenzie Financial Corp acquired a new stake in Coty (NYSE:COTY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 297,583 shares of the company's stock, valued at approximately $1,628,000.

Several other institutional investors also recently bought and sold shares of COTY. GAMMA Investing LLC increased its stake 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 buying an additional 3,214 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Coty by 55.3% during the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company's stock worth $51,000 after purchasing an additional 2,601 shares during the period. Callan Capital LLC acquired a new position in shares of Coty during the 1st quarter worth $56,000. Impact Capital Partners LLC acquired a new position in shares of Coty during the 1st quarter worth $61,000. Finally, Scotia Capital Inc. acquired a new position in shares of Coty during the 4th quarter worth $70,000. 42.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on COTY. Canaccord Genuity Group reaffirmed a "hold" rating and set a $5.00 price target (down from $8.00) on shares of Coty in a research note on Thursday, May 8th. BNP Paribas cut shares of Coty from an "outperform" rating to a "neutral" rating and set a $5.65 price target on the stock. in a research note on Friday, April 11th. Stifel Nicolaus lowered their price target on shares of Coty from $8.00 to $6.50 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their price target on shares of Coty from $8.00 to $6.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Wells Fargo & Company reaffirmed a "positive" rating on shares of Coty in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.80.

Coty Price Performance

NYSE:COTY opened at $4.76 on Tuesday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -9.91, a price-to-earnings-growth ratio of 0.64 and a beta of 2.00. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.03. The company's 50-day moving average is $4.92 and its two-hundred day moving average is $5.37. Coty has a 12-month low of $4.46 and a 12-month high of $10.30.

Coty (NYSE:COTY - Get Free Report) last released 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 analysts' expectations of $1.31 billion. Coty had a negative net margin of 6.60% and a positive return on equity of 5.61%. Coty's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. Research analysts expect that Coty will post 0.39 EPS for the current 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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