DekaBank Deutsche Girozentrale raised its holdings in Coty Inc (NYSE:COTY) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,440 shares of the company’s stock after acquiring an additional 30,456 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Coty were worth $2,627,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Coty by 10.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 43,470 shares of the company’s stock worth $613,000 after buying an additional 4,200 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Coty by 34.2% in the third quarter. Russell Investments Group Ltd. now owns 23,548 shares of the company’s stock worth $296,000 after buying an additional 6,000 shares during the last quarter. Cadence Capital Management LLC lifted its stake in shares of Coty by 18.0% in the second quarter. Cadence Capital Management LLC now owns 39,551 shares of the company’s stock worth $558,000 after buying an additional 6,021 shares during the last quarter. Arbor Wealth Management LLC lifted its stake in shares of Coty by 2.5% in the second quarter. Arbor Wealth Management LLC now owns 271,386 shares of the company’s stock worth $3,149,000 after buying an additional 6,747 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Coty by 43.0% in the second quarter. Riverhead Capital Management LLC now owns 27,562 shares of the company’s stock worth $389,000 after buying an additional 8,291 shares during the last quarter. Hedge funds and other institutional investors own 66.21% of the company’s stock.
A number of analysts have recently weighed in on COTY shares. JPMorgan Chase & Co. reduced their price objective on shares of Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group set a $10.00 target price on shares of Coty and gave the stock a “hold” rating in a research report on Wednesday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $10.00 target price (down previously from $14.50) on shares of Coty in a research report on Thursday, November 8th. Finally, Societe Generale lowered shares of Coty from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Coty has an average rating of “Hold” and a consensus target price of $12.86.
Coty (NYSE:COTY) last announced its earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. Coty had a negative net margin of 1.75% and a positive return on equity of 5.72%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Coty’s revenue was down 9.2% compared to the same quarter last year. Analysts predict that Coty Inc will post 0.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Thursday, November 29th. Coty’s dividend payout ratio (DPR) is currently 72.46%.
In other Coty news, major shareholder Cosmetics B.V. Jab purchased 1,470,000 shares of the stock in a transaction on Monday, November 19th. The shares were purchased at an average price of $9.23 per share, with a total value of $13,568,100.00. Following the acquisition, the insider now directly owns 299,578,041 shares of the company’s stock, valued at approximately $2,765,105,318.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert S. Singer purchased 45,000 shares of the stock in a transaction on Thursday, November 15th. The stock was acquired at an average cost of $8.30 per share, for a total transaction of $373,500.00. Following the acquisition, the director now directly owns 235,000 shares in the company, valued at $1,950,500. The disclosure for this purchase can be found here. Insiders have purchased 11,023,447 shares of company stock worth $97,704,004 in the last ninety days. 1.20% of the stock is currently owned by insiders.
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Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.
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