Nuveen LLC Invests $4.04 Million in Coty $COTY

Key Points

• Nuveen LLC has acquired a significant stake of 739,279 shares of Coty valued at approximately $4,044,000, now owning 0.08% of the company.
• Coty reported an earnings per share (EPS) of ($0.05), falling short of the expected $0.01, despite revenues exceeding expectations at $1.25 billion.
• Recent analyst ratings have resulted in lowered price targets for Coty, with Morgan Stanley setting a target of $4.25 and Royal Bank of Canada lowering theirs to $10.00, reflecting a cautious outlook.

Nuveen LLC bought a new position in Coty (NYSE:COTY - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 739,279 shares of the company's stock, valued at approximately $4,044,000. Nuveen LLC owned 0.08% of Coty as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Coty by 270.4% in the first quarter. Janney Montgomery Scott LLC now owns 142,219 shares of the company's stock worth $778,000 after purchasing an additional 103,828 shares during the period. Compass Wealth Management LLC raised its holdings in Coty by 33.2% in the first quarter. Compass Wealth Management LLC now owns 623,325 shares of the company's stock worth $3,410,000 after purchasing an additional 155,450 shares during the period. Graphene Investments SAS raised its holdings in Coty by 36.0% in the first quarter. Graphene Investments SAS now owns 518,300 shares of the company's stock worth $2,835,000 after purchasing an additional 137,100 shares during the period. Two Sigma Investments LP raised its holdings in shares of Coty by 490.7% during the fourth quarter. Two Sigma Investments LP now owns 827,903 shares of the company's stock worth $5,762,000 after acquiring an additional 687,756 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Coty by 28.8% during the first quarter. Invesco Ltd. now owns 1,761,954 shares of the company's stock worth $9,638,000 after acquiring an additional 393,971 shares during the period. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Coty from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $6.00 to $4.00 in a report on Thursday, August 21st. Bank of America dropped their price objective on shares of Coty from $4.00 to $3.50 and set an "underperform" rating on the stock in a report on Friday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Morgan Stanley dropped their price objective on shares of Coty from $5.00 to $4.25 and set an "equal weight" rating on the stock in a report on Monday, August 25th. Finally, Evercore ISI decreased their target price 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. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Coty currently has an average rating of "Hold" and a consensus target price of $6.19.

Coty Stock Performance

Shares of COTY traded down $0.06 during midday trading on Monday, reaching $4.28. The stock had a trading volume of 12,842,539 shares, compared to its average volume of 12,400,044. The firm has a 50 day simple moving average of $4.78 and a 200-day simple moving average of $5.05. Coty has a one year low of $3.67 and a one year high of $9.70. The firm has a market cap of $3.73 billion, a PE ratio of -9.72, a P/E/G ratio of 0.39 and a beta of 2.07. The company has a current ratio of 0.77, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06.

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

Insider Transactions at Coty

In related news, insider Priya Srinivasan bought 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $3.84 per share, for a total transaction of $115,200.00. Following the purchase, the insider owned 37,509 shares in the company, valued at $144,034.56. This represents a 399.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sue Nabi bought 260,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $3.92 per share, with a total value of $1,019,200.00. Following the purchase, the chief executive officer owned 32,127,286 shares in the company, valued at $125,938,961.12. The trade was a 0.82% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 305,500 shares of company stock worth $1,195,420. 6.00% of the stock is owned by insiders.

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.