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Ruffer LLP Trims Stock Holdings in Coty (NYSE:COTY)

Coty logo with Consumer Staples background

Key Points

  • Ruffer LLP has reduced its stake in Coty by 25.4%, owning approximately 0.28% of the company after selling 819,832 shares, valued at $13.16 million.
  • Various hedge funds have been adjusting their investments in Coty, with some increasing their stakes significantly, such as GAMMA Investing LLC boosting its stake by 140.2%.
  • Analysts have a mixed outlook on Coty, with price target reductions from firms like Barclays and Goldman Sachs, while the company holds an average rating of "Hold" with a target price of $7.80.
  • Want stock alerts on Coty? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Ruffer LLP lessened its position in Coty (NYSE:COTY - Free Report) by 25.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,405,843 shares of the company's stock after selling 819,832 shares during the quarter. Ruffer LLP owned approximately 0.28% of Coty worth $13,160,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Coty by 140.2% during the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $30,000 after purchasing an additional 3,214 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Coty by 55.3% during the fourth quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company's stock valued at $51,000 after acquiring an additional 2,601 shares during the last quarter. Scotia Capital Inc. acquired a new position in shares of Coty during the fourth quarter valued at about $70,000. Callan Capital LLC acquired a new position in shares of Coty during the first quarter valued at about $56,000. Finally, Impact Capital Partners LLC acquired a new position in shares of Coty during the first quarter valued at about $61,000. Institutional investors and hedge funds own 42.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on COTY shares. Raymond James Financial lowered shares of Coty from an "outperform" rating to a "market perform" rating in a report on Thursday, April 17th. Canaccord Genuity Group reiterated a "hold" rating and set a $5.00 price objective (down previously from $8.00) on shares of Coty in a report on Thursday, May 8th. Stifel Nicolaus decreased their target price on shares of Coty from $8.00 to $6.50 and set a "hold" rating for the company in a research report on Thursday, April 10th. Bank of America downgraded shares of Coty from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $9.00 to $4.50 in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group decreased their target price on shares of Coty from $8.00 to $6.00 and set a "neutral" rating for the company in a research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.80.

Read Our Latest Stock Analysis on Coty

Coty Stock Performance

COTY stock traded down $0.06 during mid-day trading on Friday, hitting $4.75. The company had a trading volume of 2,894,972 shares, compared to its average volume of 7,673,449. The firm has a market cap of $4.14 billion, a PE ratio of -9.91, a price-to-earnings-growth ratio of 0.67 and a beta of 2.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.51 and a current ratio of 0.82. Coty has a 12 month low of $4.46 and a 12 month high of $10.30. The stock's fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.35.

Coty (NYSE:COTY - Get Free Report) last posted its earnings results 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 business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.31 billion. Coty had a positive return on equity of 5.61% and a negative net margin of 6.60%. Coty's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. On average, analysts forecast that Coty will post 0.39 earnings per share for the current fiscal year.

About Coty

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coty (NYSE:COTY)

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