New Mexico Educational Retirement Board lowered its stake in Coty Inc (NYSE:COTY) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,300 shares of the company’s stock after selling 3,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Coty were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Coty during the 3rd quarter worth about $1,168,000. Russell Investments Group Ltd. boosted its position in Coty by 34.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 23,548 shares of the company’s stock worth $296,000 after acquiring an additional 6,000 shares during the period. State of Alaska Department of Revenue boosted its position in Coty by 33.7% during the 4th quarter. State of Alaska Department of Revenue now owns 205,777 shares of the company’s stock worth $1,348,000 after acquiring an additional 51,884 shares during the period. Tobam boosted its position in Coty by 9.4% during the 3rd quarter. Tobam now owns 3,536,725 shares of the company’s stock worth $44,421,000 after acquiring an additional 302,875 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new stake in Coty during the 3rd quarter worth about $283,000. 66.98% of the stock is currently owned by hedge funds and other institutional investors.
COTY has been the subject of a number of research reports. Citigroup set a $11.00 price objective on Coty and gave the stock a “buy” rating in a research report on Friday, November 9th. TheStreet lowered Coty from a “c-” rating to a “d+” rating in a research report on Friday, December 7th. Morgan Stanley restated an “equal weight” rating and set a $10.00 price objective (down from $14.50) on shares of Coty in a research report on Thursday, November 8th. Wells Fargo & Co decreased their price objective on Coty from $11.00 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, November 7th. Finally, Jefferies Financial Group set a $10.00 price objective on Coty and gave the stock a “hold” rating in a research report on Wednesday, November 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.68.
Coty (NYSE:COTY) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.47 billion. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities analysts expect that Coty Inc will post 0.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 5.18%. Coty’s dividend payout ratio is 72.46%.
In other news, CEO Pierre Laubies purchased 2,308,447 shares of Coty stock in a transaction dated Wednesday, November 14th. The stock was acquired at an average cost of $8.69 per share, for a total transaction of $20,060,404.43. Following the acquisition, the chief executive officer now directly owns 2,308,447 shares in the company, valued at $20,060,404.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of Coty stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $8.89 per share, with a total value of $48,006,000.00. Following the completion of the acquisition, the insider now owns 294,508,041 shares in the company, valued at $2,618,176,484.49. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 11,023,447 shares of company stock valued at $97,704,004. 1.20% of the stock is owned by corporate insiders.
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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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