Mirae Asset Global Investments Co. Ltd. Takes Position in Coty Inc. (NYSE:COTY)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Coty Inc. (NYSE:COTYGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,459,725 shares of the company’s stock, valued at approximately $13,123,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ acquired a new position in Coty in the first quarter valued at $75,000. Captrust Financial Advisors boosted its holdings in Coty by 126.2% in the first quarter. Captrust Financial Advisors now owns 8,400 shares of the company’s stock valued at $76,000 after acquiring an additional 4,686 shares during the last quarter. M&T Bank Corp acquired a new position in Coty in the first quarter valued at $91,000. Stephens Inc. AR acquired a new position in Coty in the fourth quarter valued at $113,000. Finally, Keebeck Alpha LP acquired a new position in Coty in the first quarter valued at $103,000. Hedge funds and other institutional investors own 37.45% of the company’s stock.

Coty Stock Up 1.7 %

Shares of NYSE COTY opened at $7.82 on Tuesday. Coty Inc. has a 1 year low of $5.90 and a 1 year high of $11.12. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 97.76, a PEG ratio of 1.51 and a beta of 1.94. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.40 and a current ratio of 0.66. The stock’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $7.71.

Coty (NYSE:COTYGet Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Coty had a return on equity of 8.41% and a net margin of 2.45%. Coty’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, equities analysts anticipate that Coty Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America assumed coverage on Coty in a report on Wednesday, September 14th. They issued a “buy” rating and a $12.00 target price on the stock. Piper Sandler started coverage on Coty in a research note on Thursday, June 30th. They set a “neutral” rating and a $8.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Coty from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, August 26th. DA Davidson boosted their price objective on Coty from $10.25 to $10.50 and gave the stock a “buy” rating in a research note on Monday, August 29th. Finally, StockNews.com cut Coty from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

About Coty

(Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of 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, Kim Kardashian West, and Tiffany & Co brands.

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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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