Hsbc Holdings PLC Trims Stake in Coty Inc. (NYSE:COTY)

Hsbc Holdings PLC trimmed its holdings in shares of Coty Inc. (NYSE:COTY – Get Rating) by 31.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,572 shares of the company’s stock after selling 11,117 shares during the quarter. Hsbc Holdings PLC’s holdings in Coty were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cipher Capital LP grew its stake in shares of Coty by 30.8% in the 3rd quarter. Cipher Capital LP now owns 14,690 shares of the company’s stock worth $93,000 after buying an additional 3,462 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Coty by 8.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 112,794 shares of the company’s stock worth $713,000 after acquiring an additional 9,114 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Coty by 111.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 138,605 shares of the company’s stock valued at $876,000 after acquiring an additional 73,173 shares during the last quarter. ExodusPoint Capital Management LP boosted its position in shares of Coty by 239.3% during the 3rd quarter. ExodusPoint Capital Management LP now owns 162,057 shares of the company’s stock valued at $1,024,000 after acquiring an additional 114,290 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Coty by 4.9% in the third quarter. Dimensional Fund Advisors LP now owns 9,475,233 shares of the company’s stock worth $59,888,000 after buying an additional 440,975 shares during the last quarter. 37.10% of the stock is currently owned by hedge funds and other institutional investors.

Coty Stock Performance

NYSE COTY opened at $10.72 on Friday. The stock’s fifty day moving average is $10.30 and its two-hundred day moving average is $8.42. The firm has a market capitalization of $9.14 billion, a P/E ratio of 76.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.41 and a current ratio of 0.65. Coty Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $11.65.

Coty (NYSE:COTY – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Coty had a return on equity of 8.83% and a net margin of 2.51%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, research analysts anticipate that Coty Inc. will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

COTY has been the topic of several research reports. Piper Sandler raised their price target on Coty from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Citigroup started coverage on Coty in a research note on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Coty in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Coty from $11.00 to $12.00 in a research note on Thursday, February 9th. Finally, Barclays raised their price target on Coty to $8.00 in a report on Tuesday, November 15th. Five 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.84.

Coty Company Profile

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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focus on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.