Nisa Investment Advisors LLC reduced its position in Coty Inc (NYSE:COTY) by 50.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,092 shares of the company’s stock after selling 60,893 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Coty were worth $755,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Rothschild Investment Corp IL acquired a new stake in shares of Coty in the second quarter valued at approximately $159,000. Suntrust Banks Inc. acquired a new stake in shares of Coty in the first quarter valued at approximately $286,000. Intact Investment Management Inc. acquired a new stake in shares of Coty in the second quarter valued at approximately $230,000. Contravisory Investment Management Inc. acquired a new stake in shares of Coty in the second quarter valued at approximately $237,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Coty in the second quarter valued at approximately $1,220,000. 66.85% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on COTY. Wells Fargo & Co decreased their price objective on Coty from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $24.00 price objective on shares of Coty in a report on Wednesday, August 22nd. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a report on Monday, July 23rd. Societe Generale downgraded Coty from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Citigroup decreased their price target on Coty from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.11.
Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. Coty’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Coty Inc will post 0.75 earnings per share for the current fiscal year.
In related news, Director Robert S. Singer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was purchased at an average cost of $12.00 per share, with a total value of $60,000.00. Following the completion of the acquisition, the director now directly owns 175,000 shares in the company, valued at $2,100,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were bought at an average cost of $12.29 per share, with a total value of $31,954,000.00. Following the completion of the acquisition, the insider now owns 291,138,041 shares of the company’s stock, valued at $3,578,086,523.89. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,655,000 shares of company stock valued at $44,583,400. Corporate insiders own 1.20% of the company’s stock.
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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