Mitsubishi UFJ Asset Management Co. Ltd. Cuts Position in Coty (NYSE:COTY)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in Coty (NYSE:COTY - Free Report) by 6.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 926,562 shares of the company's stock after selling 66,516 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.11% of Coty worth $5,068,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Coty by 14.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,535,430 shares of the company's stock worth $19,339,000 after purchasing an additional 450,413 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Coty by 5.8% in the first quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock valued at $205,921,000 after buying an additional 2,055,771 shares during the period. US Bancorp DE raised its position in shares of Coty by 182.7% during the first quarter. US Bancorp DE now owns 26,776 shares of the company's stock worth $146,000 after acquiring an additional 17,303 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Coty in the first quarter worth approximately $219,000. Finally, XTX Topco Ltd bought a new stake in Coty in the first quarter valued at approximately $736,000. Institutional investors and hedge funds own 42.36% of the company's stock.

Coty Stock Performance

NYSE:COTY traded down $0.08 on Friday, hitting $4.91. The stock had a trading volume of 5,334,239 shares, compared to its average volume of 6,147,899. The business's 50-day simple moving average is $4.91 and its two-hundred day simple moving average is $5.23. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -10.23, a price-to-earnings-growth ratio of 0.67 and a beta of 2.00. Coty has a 52-week low of $4.46 and a 52-week high of $10.30. The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.03.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COTY shares. The Goldman Sachs Group lowered their price target on shares of Coty from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Canaccord Genuity Group restated a "hold" rating and issued a $5.00 target price (down previously from $8.00) on shares of Coty in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Citigroup decreased their target price on Coty from $8.00 to $6.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Coty from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coty currently has a consensus rating of "Hold" and a consensus target price of $7.80.

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.