LPL Financial LLC Has $1.72 Million Stock Position in Coty Inc. (NYSE:COTY)

LPL Financial LLC increased its position in shares of Coty Inc. (NYSE:COTY) by 46.6% in the second quarter, HoldingsChannel reports. The firm owned 139,736 shares of the company’s stock after purchasing an additional 44,407 shares during the period. LPL Financial LLC’s holdings in Coty were worth $1,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC acquired a new stake in Coty in the 2nd quarter valued at about $768,000. Credit Agricole S A acquired a new stake in Coty in the 2nd quarter valued at about $327,687,000. KBC Group NV acquired a new stake in Coty in the 2nd quarter valued at about $2,108,000. Shilanski & Associates Inc. acquired a new stake in Coty in the 2nd quarter valued at about $1,073,000. Finally, Mach 1 Financial Group LLC acquired a new stake in Coty in the 2nd quarter valued at about $532,000. Institutional investors and hedge funds own 37.10% of the company’s stock.

Coty Stock Performance

Shares of COTY opened at $9.79 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.44 and a current ratio of 0.79. Coty Inc. has a twelve month low of $7.34 and a twelve month high of $13.46. The firm’s 50 day moving average price is $10.49 and its two-hundred day moving average price is $11.35. The firm has a market cap of $8.35 billion, a P/E ratio of 23.31, a PEG ratio of 9.59 and a beta of 1.90.

Coty (NYSE:COTY) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). Coty had a net margin of 6.57% and a return on equity of 11.64%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.11 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Coty Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In other Coty news, major shareholder Holdings B.V. Jab acquired 3,000,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were bought at an average cost of $10.80 per share, for a total transaction of $32,400,000.00. Following the completion of the acquisition, the insider now directly owns 451,853,684 shares of the company’s stock, valued at $4,880,019,787.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Maria Asunicion Aramburuzabala purchased 500,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were purchased at an average cost of $10.80 per share, with a total value of $5,400,000.00. Following the completion of the transaction, the director now owns 1,425,000 shares of the company’s stock, valued at approximately $15,390,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Holdings B.V. Jab purchased 3,000,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were purchased at an average cost of $10.80 per share, for a total transaction of $32,400,000.00. Following the completion of the transaction, the insider now directly owns 451,853,684 shares of the company’s stock, valued at approximately $4,880,019,787.20. The disclosure for this purchase can be found here. Insiders have acquired 3,525,275 shares of company stock worth $38,061,083 over the last ninety days. Insiders own 5.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on COTY. Citigroup lowered their price objective on shares of Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. JPMorgan Chase & Co. lowered their price objective on shares of Coty from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. Piper Sandler reduced their target price on shares of Coty from $16.00 to $14.00 in a research note on Tuesday, October 10th. Morgan Stanley reduced their target price on shares of Coty from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Coty in a research note on Wednesday, August 23rd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.71.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.