Voloridge Investment Management LLC Acquires New Position in Coty Inc. (NYSE:COTY)

Voloridge Investment Management LLC bought a new stake in Coty Inc. (NYSE:COTY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,139,426 shares of the company's stock, valued at approximately $7,930,000. Voloridge Investment Management LLC owned about 0.13% of Coty as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of COTY. Barclays PLC increased its holdings in Coty by 147.1% during the 3rd quarter. Barclays PLC now owns 1,165,806 shares of the company's stock worth $10,947,000 after purchasing an additional 693,961 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Coty in the fourth quarter worth $267,000. PFG Investments LLC purchased a new stake in shares of Coty in the fourth quarter worth $75,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Coty in the fourth quarter worth $74,000. Finally, Blue Trust Inc. raised its position in Coty by 124.8% during the fourth quarter. Blue Trust Inc. now owns 6,984 shares of the company's stock valued at $49,000 after purchasing an additional 3,877 shares in the last quarter. Institutional investors own 42.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Coty from $8.00 to $6.50 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Piper Sandler reduced their price objective on Coty from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. DA Davidson restated a "buy" rating and set a $12.50 price objective on shares of Coty in a report on Thursday, February 6th. Bank of America lowered Coty from a "buy" rating to an "underperform" rating and reduced their target price for the company from $9.00 to $4.50 in a research report on Tuesday, April 15th. Finally, Raymond James cut Coty from an "outperform" rating to a "market perform" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.80.

Coty Price Performance

Shares of Coty stock traded down $0.03 on Friday, reaching $4.97. The stock had a trading volume of 2,248,639 shares, compared to its average volume of 5,645,715. Coty Inc. has a 1 year low of $4.46 and a 1 year high of $10.54. The company has a market cap of $4.33 billion, a P/E ratio of -496.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.90. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The business's 50 day moving average is $5.03 and its two-hundred day moving average is $6.14.

Coty (NYSE:COTY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.31 billion. Coty had a net margin of 0.22% and a return on equity of 6.34%. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, research analysts anticipate that Coty Inc. will post 0.39 EPS for the current year.

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.