Coty $COTY Shares Acquired by M&G PLC

M&G PLC boosted its position in Coty (NYSE:COTY) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,675,063 shares of the company’s stock after buying an additional 268,653 shares during the period. M&G PLC owned approximately 0.42% of Coty worth $9,592,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Coty by 2,300.9% during the first quarter. Pacer Advisors Inc. now owns 2,953,407 shares of the company’s stock valued at $5,936,000 after purchasing an additional 2,830,397 shares during the period. First Trust Advisors LP increased its stake in shares of Coty by 827.5% in the first quarter. First Trust Advisors LP now owns 2,018,890 shares of the company’s stock worth $4,058,000 after buying an additional 1,801,209 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Coty in the first quarter worth $2,536,000. Renaissance Technologies LLC increased its stake in shares of Coty by 177.6% in the first quarter. Renaissance Technologies LLC now owns 1,311,687 shares of the company’s stock worth $2,636,000 after buying an additional 839,257 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Coty by 11.1% in the second quarter. Assenagon Asset Management S.A. now owns 6,871,724 shares of the company’s stock worth $14,843,000 after buying an additional 684,052 shares during the period. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty News Roundup

Here are the key news stories impacting Coty this week:

• Neutral Sentiment: At its November 5 annual meeting, Coty stockholders elected all nine director nominees and approved compensation proposals. The routine governance update provides no clear near-term earnings catalyst. Coty Stockholders Approve Directors and Compensation Proposals
• Neutral Sentiment: Coty plans to restructure its business in France. The move could improve efficiency, but without details on implementation, costs, or projected savings, its financial impact is uncertain. Beauty firm Coty to restructure its business in France
• Negative Sentiment: Barclays raised its price target to $3 from $2 but maintained an Underweight rating. The target remains below the cited share price, signaling that the bank sees downside despite the increase. Barclays price-target update

Wall Street Analyst Weigh In

COTY has been the subject of several analyst reports. Wall Street Zen raised shares of Coty from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $3.00 price objective on shares of Coty in a research report on Friday, August 21st. Jefferies Financial Group boosted their price objective on shares of Coty from $2.40 to $2.95 and gave the company a “buy” rating in a research report on Monday, October 19th. Royal Bank Of Canada increased their target price on shares of Coty from $3.00 to $3.50 and gave the stock a “sector perform” rating in a report on Friday, November 6th. Finally, Barclays raised their target price on Coty from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $3.35.

Coty Price Performance

Shares of Coty stock opened at $4.33 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.81 billion, a PE ratio of 16.88, a P/E/G ratio of 0.65 and a beta of 0.83. The business has a 50 day moving average of $3.00 and a 200 day moving average of $2.56. Coty has a 52 week low of $1.82 and a 52 week high of $4.36.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Coty had a negative net margin of 9.74% and a positive return on equity of 7.11%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. As a group, equities research analysts forecast that Coty will post 0.34 earnings per share for the current year.

Coty Company Profile

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company’s brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.