Millennium Management LLC Acquires 1,695,358 Shares of Coty Inc. (NYSE:COTY)

Millennium Management LLC grew its stake in Coty Inc. (NYSE:COTY - Free Report) by 58.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,585,632 shares of the company's stock after purchasing an additional 1,695,358 shares during the period. Millennium Management LLC owned about 0.53% of Coty worth $31,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Coty by 317.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company's stock valued at $29,000 after purchasing an additional 3,186 shares in the last quarter. Allworth Financial LP boosted its position in Coty by 145.0% during the 4th quarter. Allworth Financial LP now owns 5,623 shares of the company's stock worth $42,000 after buying an additional 3,328 shares during the period. Blue Trust Inc. boosted its position in Coty by 124.8% during the 4th quarter. Blue Trust Inc. now owns 6,984 shares of the company's stock worth $49,000 after buying an additional 3,877 shares during the period. Quadrant Capital Group LLC boosted its position in 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 buying an additional 2,601 shares during the period. Finally, R Squared Ltd acquired a new stake in Coty during the 4th quarter worth approximately $54,000. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COTY shares. Royal Bank of Canada cut their target price on shares of Coty from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Citigroup cut their target price on shares of Coty from $8.00 to $6.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Canaccord Genuity Group reiterated a "hold" rating and set a $5.00 target price (down from $8.00) on shares of Coty in a research report on Thursday, May 8th. Evercore ISI cut their target price on shares of Coty from $15.00 to $10.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 12th. Finally, Raymond James downgraded shares of Coty from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Coty currently has a consensus rating of "Hold" and a consensus price target of $7.80.

Coty Trading Down 2.9%

Shares of NYSE COTY traded down $0.15 during midday trading on Friday, reaching $4.79. The stock had a trading volume of 12,290,105 shares, compared to its average volume of 5,642,890. The company's 50 day moving average price is $5.09 and its 200 day moving average price is $6.20. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of -478.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71. Coty Inc. has a twelve month low of $4.46 and a twelve month high of $10.80.

Coty (NYSE:COTY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. Coty had a net margin of 0.22% and a return on equity of 6.34%. The business's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, sell-side analysts expect that Coty Inc. will post 0.39 EPS 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.