State of Michigan Retirement System Boosts Stock Position in Coty Inc. (NYSE:COTY)

State of Michigan Retirement System lifted its holdings in shares of Coty Inc. (NYSE:COTYFree Report) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 92,298 shares of the company’s stock after acquiring an additional 2,400 shares during the period. State of Michigan Retirement System’s holdings in Coty were worth $1,104,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Coty by 12.1% during the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock worth $430,920,000 after purchasing an additional 4,245,039 shares during the period. Ranger Investment Management L.P. lifted its holdings in shares of Coty by 0.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,623,182 shares of the company’s stock worth $20,160,000 after purchasing an additional 7,910 shares during the period. FIL Ltd lifted its holdings in shares of Coty by 10.6% during the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock worth $178,171,000 after purchasing an additional 1,375,857 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Coty during the fourth quarter worth about $1,533,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Coty during the fourth quarter worth about $4,232,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

COTY has been the subject of a number of analyst reports. TD Cowen decreased their price target on Coty from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Citigroup decreased their price target on Coty from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Barclays decreased their price target on Coty from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. DA Davidson decreased their price target on Coty from $17.50 to $16.50 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Canaccord Genuity Group assumed coverage on Coty in a report on Monday, April 15th. They issued a “buy” rating and a $14.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.15.

Read Our Latest Analysis on COTY

Coty Stock Up 0.8 %

Shares of COTY opened at $9.81 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.50 and a current ratio of 0.80. The stock has a 50 day moving average price of $10.41 and a 200 day moving average price of $11.44. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 3.35 and a beta of 1.91. Coty Inc. has a one year low of $9.02 and a one year high of $13.46.

Coty (NYSE:COTYGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. Coty had a net margin of 3.59% and a return on equity of 8.75%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. Equities research analysts forecast that Coty Inc. will post 0.44 earnings per share for the current fiscal year.

Coty Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coty (NYSE:COTY)

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