SG Americas Securities LLC raised its stake in Coty Inc. (NYSE:COTY - Free Report) by 1,803.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,912,082 shares of the company's stock after acquiring an additional 1,811,638 shares during the quarter. SG Americas Securities LLC owned approximately 0.22% of Coty worth $10,459,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Coty during the fourth quarter valued at approximately $44,401,000. Amundi raised its stake in Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company's stock valued at $30,503,000 after buying an additional 4,478,906 shares in the last quarter. Man Group plc acquired a new stake in Coty during the fourth quarter valued at approximately $28,473,000. Caisse Des Depots ET Consignations acquired a new stake in Coty during the fourth quarter valued at approximately $19,663,000. Finally, Ameriprise Financial Inc. raised its stake in 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 buying an additional 2,175,120 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on COTY. Bank of America lowered Coty from a "buy" rating to an "underperform" rating and lowered their target price for the company from $9.00 to $4.50 in a report on Tuesday, April 15th. Barclays decreased their price objective on Coty from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Friday, April 11th. Canaccord Genuity Group reissued a "hold" rating and issued a $5.00 price objective (down from $8.00) on shares of Coty in a report on Thursday, May 8th. Wells Fargo & Company reissued a "positive" rating on shares of Coty in a report on Wednesday, April 16th. Finally, Royal Bank of Canada cut their target price on Coty from $13.00 to $12.00 and set an "outperform" 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 issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.80.
View Our Latest Report on Coty
Coty Stock Down 5.9%
NYSE:COTY traded down $0.30 on Friday, hitting $4.74. The stock had a trading volume of 9,809,822 shares, compared to its average volume of 5,861,512. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71. The stock has a market cap of $4.13 billion, a P/E ratio of -473.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.96. Coty Inc. has a 1 year low of $4.46 and a 1 year high of $10.54. The firm's fifty day simple moving average is $4.96 and its two-hundred day simple moving average is $5.94.
Coty (NYSE:COTY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Coty had a return on equity of 6.34% and a net margin of 0.22%. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the previous year, the business earned $0.05 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. Analysts predict that Coty Inc. will post 0.39 earnings per share for the current year.
Coty Profile
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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.
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