LPL Financial LLC boosted its position in Coty Inc. (NYSE:COTY) by 228.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,854 shares of the company’s stock after buying an additional 28,420 shares during the quarter. LPL Financial LLC’s holdings in Coty were worth $287,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Coty by 5.3% during the third quarter. California State Teachers Retirement System now owns 510,154 shares of the company’s stock valued at $1,377,000 after buying an additional 25,458 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Coty by 59.8% in the fourth quarter. Teacher Retirement System of Texas now owns 28,062 shares of the company’s stock worth $197,000 after purchasing an additional 10,506 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Coty by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,675,052 shares of the company’s stock worth $18,778,000 after acquiring an additional 116,035 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of Coty during the 4th quarter worth about $632,000. Finally, Sei Investments Co. acquired a new stake in Coty in the fourth quarter valued at approximately $2,324,000. Hedge funds and other institutional investors own 22.65% of the company’s stock.
In other Coty news, Director Robert S. Singer acquired 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 11th. The stock was bought at an average price of $6.63 per share, for a total transaction of $497,250.00. Following the acquisition, the director now directly owns 446,482 shares in the company, valued at $2,960,175.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.90% of the company’s stock.
Coty (NYSE:COTY) last issued its earnings results on Monday, February 8th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Coty had a negative return on equity of 3.35% and a negative net margin of 15.56%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. Coty’s revenue was down 15.9% on a year-over-year basis. Equities research analysts forecast that Coty Inc. will post 0.23 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. DA Davidson lifted their price objective on Coty from $4.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 10th. Evercore ISI upgraded shares of Coty from an “in-line” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Wednesday, February 10th. Finally, Morgan Stanley raised their target price on Coty from $6.50 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.69.
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, and Tiffany & Co brands.
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