State Board of Administration of Florida Retirement System lowered its stake in shares of Coty Inc. (NYSE:COTY – Get Rating) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,197 shares of the company’s stock after selling 5,400 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Coty were worth $3,409,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Coty by 197.8% during the fourth quarter. CWM LLC now owns 4,681 shares of the company’s stock worth $40,000 after purchasing an additional 3,109 shares during the period. Lazard Asset Management LLC boosted its position in Coty by 335.5% during the third quarter. Lazard Asset Management LLC now owns 10,840 shares of the company’s stock worth $68,000 after purchasing an additional 8,351 shares during the period. Captrust Financial Advisors boosted its position in Coty by 126.2% during the first quarter. Captrust Financial Advisors now owns 8,400 shares of the company’s stock worth $76,000 after purchasing an additional 4,686 shares during the period. Enlightenment Research LLC bought a new stake in Coty during the third quarter worth approximately $83,000. Finally, Mather Group LLC. bought a new stake in Coty during the third quarter worth approximately $89,000. Institutional investors own 37.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on COTY shares. Barclays increased their price objective on Coty from $11.00 to $12.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Coty from $12.00 to $13.00 in a research report on Tuesday, May 2nd. Wells Fargo & Company increased their price objective on Coty from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 22nd. Raymond James increased their price objective on Coty from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Finally, Citigroup assumed coverage on Coty in a research note on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.44.
Coty Stock Performance
Coty (NYSE:COTY – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.16. Coty had a return on equity of 8.83% and a net margin of 2.51%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Coty Inc. will post 0.37 EPS for the current fiscal year.
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.
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