Northern Trust Corp Acquires 84,481 Shares of Coty $COTY

Key Points

• Northern Trust Corp increased its stake in Coty by 2.8%, acquiring an additional 84,481 shares during the first quarter, bringing its total ownership to approximately 3.15 million shares valued at $17.2 million.
• Research analysts have expressed mixed views on Coty, with several cutting their price targets, leading to an average target price of $6.19 and a consensus rating of "Hold."
• Insider trading activity was notable, with CEO Sue Nabi purchasing 260,000 shares and CFO Laurent Mercier buying 12,500 shares, indicating confidence in the company's future.

Northern Trust Corp lifted its holdings in Coty (NYSE:COTY - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,149,032 shares of the company's stock after buying an additional 84,481 shares during the quarter. Northern Trust Corp owned approximately 0.36% of Coty worth $17,225,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COTY. Janney Montgomery Scott LLC boosted its stake 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 in the last quarter. Compass Wealth Management LLC lifted its holdings in shares of Coty by 33.2% during the first quarter. Compass Wealth Management LLC now owns 623,325 shares of the company's stock valued at $3,410,000 after purchasing an additional 155,450 shares during the last quarter. Graphene Investments SAS lifted its holdings in shares of Coty by 36.0% during the first quarter. Graphene Investments SAS now owns 518,300 shares of the company's stock valued at $2,835,000 after purchasing an additional 137,100 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Coty by 490.7% in the 4th quarter. Two Sigma Investments LP now owns 827,903 shares of the company's stock worth $5,762,000 after purchasing an additional 687,756 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Coty by 28.8% in the 1st quarter. Invesco Ltd. now owns 1,761,954 shares of the company's stock worth $9,638,000 after buying an additional 393,971 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup reiterated a "neutral" rating and set a $4.25 price objective (down previously from $6.50) on shares of Coty in a research note on Thursday, August 21st. Evercore ISI reduced their price target on Coty from $10.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday, August 21st. The Goldman Sachs Group dropped their price target on shares of Coty from $6.00 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Cowen reissued a "hold" rating on shares of Coty in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada decreased their target price on shares of Coty from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coty currently has an average rating of "Hold" and a consensus target price of $6.19.

Insider Buying and Selling at Coty

In related news, CEO Sue Nabi bought 260,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the acquisition, the chief executive officer owned 32,127,286 shares in the company, valued at $125,938,961.12. This trade represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laurent Mercier purchased 12,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $3.96 per share, with a total value of $49,500.00. Following the acquisition, the chief financial officer directly owned 402,216 shares of the company's stock, valued at $1,592,775.36. This trade represents a 3.21% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 305,500 shares of company stock valued at $1,195,420. Insiders own 6.00% of the company's stock.

Coty Stock Performance

COTY stock opened at $4.35 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.46. Coty has a 1 year low of $3.67 and a 1 year high of $9.70. The company has a market cap of $3.79 billion, a P/E ratio of -9.87, a price-to-earnings-growth ratio of 0.39 and a beta of 2.07. The stock's fifty day moving average price is $4.76 and its 200-day moving average price is $5.04.

Coty (NYSE:COTY - Get Free Report) last announced its 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 positive return on equity of 5.18% and a negative net margin of 6.24%.The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the business posted ($0.03) earnings per share. The company's revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts forecast that Coty will post 0.39 earnings per share 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.

Want to see what other hedge funds are holding COTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coty (NYSE:COTY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.