Riverhead Capital Management LLC Lowers Stake in Coty Inc (NYSE:COTY)

Riverhead Capital Management LLC lessened its position in shares of Coty Inc (NYSE:COTY) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,900 shares of the company’s stock after selling 6,700 shares during the period. Riverhead Capital Management LLC’s holdings in Coty were worth $414,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of COTY. OppenheimerFunds Inc. grew its position in Coty by 3,576.5% during the first quarter. OppenheimerFunds Inc. now owns 3,791,689 shares of the company’s stock valued at $43,604,000 after acquiring an additional 3,688,556 shares during the period. Laurion Capital Management LP lifted its stake in shares of Coty by 2,237.4% during the first quarter. Laurion Capital Management LP now owns 1,403,928 shares of the company’s stock worth $16,145,000 after purchasing an additional 1,343,865 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Coty by 354.6% during the first quarter. First Trust Advisors LP now owns 1,712,310 shares of the company’s stock worth $19,692,000 after purchasing an additional 1,335,652 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Coty by 58.7% during the first quarter. Parametric Portfolio Associates LLC now owns 3,121,493 shares of the company’s stock worth $35,897,000 after purchasing an additional 1,154,562 shares in the last quarter. Finally, TT International acquired a new position in shares of Coty during the first quarter worth about $10,062,000. 38.53% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Pierre Laubies acquired 262,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $9.54 per share, for a total transaction of $2,499,480.00. Following the completion of the purchase, the chief executive officer now directly owns 3,218,675 shares of the company’s stock, valued at approximately $30,706,159.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Fiona Hughes acquired 210,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of $9.81 per share, for a total transaction of $2,060,100.00. Following the purchase, the chief marketing officer now directly owns 210,000 shares of the company’s stock, valued at $2,060,100. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 507,000 shares of company stock worth $4,885,580. Insiders own 1.20% of the company’s stock.

A number of research analysts have commented on COTY shares. Morgan Stanley reduced their price objective on Coty from $10.90 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. BNP Paribas started coverage on Coty in a research note on Tuesday, June 4th. They set an “outperform” rating and a $17.00 price objective on the stock. Royal Bank of Canada set a $14.00 price objective on Coty and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson boosted their price objective on Coty from $10.00 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Co reduced their price objective on Coty from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.73.

Shares of NYSE:COTY traded up $0.08 during trading on Friday, hitting $10.66. The company’s stock had a trading volume of 30,622 shares, compared to its average volume of 5,805,475. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.61 and a current ratio of 0.94. Coty Inc has a fifty-two week low of $5.91 and a fifty-two week high of $14.14. The stock’s 50-day moving average price is $9.92 and its two-hundred day moving average price is $11.38. The company has a market capitalization of $8.01 billion, a PE ratio of 16.42, a PEG ratio of 2.34 and a beta of 0.74.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Coty had a positive return on equity of 6.89% and a negative net margin of 43.76%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts predict that Coty Inc will post 0.68 earnings per share for the current fiscal year.

The firm also recently declared a — dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.125 dividend. This represents a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, September 6th. Coty’s dividend payout ratio (DPR) is 76.92%.

About Coty

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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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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