QVIDTVM Management LLC Makes New Investment in Coty (NYSE:COTY)

Key Points

• QVIDTVM Management LLC acquired 1,605,020 shares of Coty, valued at approximately $8.78 million, making it the firm's 4th largest position.
• Recent analyst ratings for Coty include a downgraded forecast from Bank of America, lowering their price target from $9.00 to $4.50, while other analysts remain mixed with ratings of hold and buy.
• Coty's stock decreased by 1.2% to an opening price of $4.74, with a market cap of $4.13 billion and a PE ratio of -9.88.

QVIDTVM Management LLC bought a new position in shares of Coty (NYSE:COTY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,605,020 shares of the company's stock, valued at approximately $8,779,000. Coty makes up about 7.8% of QVIDTVM Management LLC's holdings, making the stock its 4th biggest holding. QVIDTVM Management LLC owned 0.18% of Coty as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Man Group plc purchased a new stake in shares of Coty during the fourth quarter worth about $28,473,000. Assenagon Asset Management S.A. increased its stake in shares of Coty by 162.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company's stock valued at $23,523,000 after purchasing an additional 2,660,221 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Coty by 12.1% during the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company's stock valued at $140,691,000 after purchasing an additional 2,175,120 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Coty by 5.8% during the first quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock valued at $205,921,000 after purchasing an additional 2,055,771 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Coty during the fourth quarter valued at approximately $12,981,000. Institutional investors own 42.36% of the company's stock.

Coty Stock Down 0.9%

NYSE:COTY traded down $0.05 during trading hours on Friday, hitting $4.95. The stock had a trading volume of 2,794,553 shares, compared to its average volume of 7,588,343. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.03. Coty has a 1-year low of $4.46 and a 1-year high of $10.30. The business has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $5.26. The company has a market cap of $4.31 billion, a PE ratio of -10.30, a price-to-earnings-growth ratio of 0.69 and a beta of 2.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada dropped their target price 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. Citigroup cut their price objective on shares of Coty from $8.00 to $6.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. Canaccord Genuity Group reissued a "hold" rating and set a $5.00 price objective (down previously from $8.00) on shares of Coty in a research report on Thursday, May 8th. Raymond James Financial downgraded shares of Coty from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coty from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Two 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 data from MarketBeat.com, Coty has a consensus rating of "Hold" and an average 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.