Shikiar Asset Management Inc. Sells 100,500 Shares of Coty $COTY

Key Points

• Shikiar Asset Management Inc. significantly reduced its holdings in Coty, selling 100,500 shares and decreasing its stake by 77%, leaving it with 30,000 shares valued at approximately $139,000.
• Other institutional investors increased their positions in Coty, with AQR Capital Management boosting its stake by 456.9% and now owning over 4 million shares.
• Coty reported negative earnings of ($0.05) per share for the last quarter, missing analyst expectations, while also experiencing an 8.1% decline in revenue year-over-year.

Shikiar Asset Management Inc. decreased its stake in shares of Coty (NYSE:COTY - Free Report) by 77.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 30,000 shares of the company's stock after selling 100,500 shares during the period. Shikiar Asset Management Inc.'s holdings in Coty were worth $139,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COTY. AQR Capital Management LLC raised its position in shares of Coty by 456.9% in the first quarter. AQR Capital Management LLC now owns 4,063,070 shares of the company's stock valued at $21,981,000 after purchasing an additional 3,333,511 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Coty by 162.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company's stock worth $23,523,000 after buying an additional 2,660,221 shares during the period. Ameriprise Financial Inc. grew its stake in Coty by 10.5% in the 1st quarter. Ameriprise Financial Inc. now owns 22,346,995 shares of the company's stock valued at $122,239,000 after buying an additional 2,132,613 shares during the last quarter. Vanguard Group Inc. grew its stake in Coty by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock valued at $205,921,000 after buying an additional 2,055,771 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Coty by 1,803.6% in the 1st quarter. SG Americas Securities LLC now owns 1,912,082 shares of the company's stock worth $10,459,000 after acquiring an additional 1,811,638 shares during the period. 42.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Coty

In other Coty news, CFO Laurent Mercier acquired 12,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $3.96 per share, for a total transaction of $49,500.00. Following the purchase, the chief financial officer owned 402,216 shares in the company, valued at $1,592,775.36. This represents a 3.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Priya Srinivasan bought 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $3.84 per share, for a total transaction of $115,200.00. Following the completion of the transaction, the insider owned 37,509 shares in the company, valued at $144,034.56. This represents a 399.52% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 334,900 shares of company stock worth $1,321,840. Corporate insiders own 5.90% of the company's stock.

Coty Trading Up 3.2%

Coty stock opened at $4.45 on Friday. The business has a 50 day moving average price of $4.33 and a two-hundred day moving average price of $4.76. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. Coty has a 12 month low of $3.67 and a 12 month high of $9.26. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -10.11, a price-to-earnings-growth ratio of 0.29 and a beta of 1.98.

Coty (NYSE:COTY - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). The firm had revenue of $1.25 billion for 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 for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, equities analysts forecast that Coty will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Coty from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, August 22nd. Morgan Stanley cut their price objective on Coty from $5.00 to $4.25 and set an "equal weight" rating for the company in a research report on Monday, August 25th. Barclays lowered their target price on Coty from $4.50 to $3.50 and set an "underweight" rating on the stock in a report on Friday, August 22nd. The Goldman Sachs Group cut their price target on Coty from $6.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, August 22nd. Finally, Cowen reissued a "hold" rating on shares of Coty in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $6.06.

Coty Company 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.

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