Coty Inc. (NYSE:COTY) Position Trimmed by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in Coty Inc. (NYSE:COTY) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,798 shares of the company’s stock after selling 4,500 shares during the quarter. State of Michigan Retirement System’s holdings in Coty were worth $880,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC boosted its holdings in shares of Coty by 1,448.8% in the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after buying an additional 4,810 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Coty in the 2nd quarter worth approximately $107,000. Envestnet Portfolio Solutions Inc. grew its position in Coty by 9.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after purchasing an additional 1,104 shares in the last quarter. EntryPoint Capital LLC grew its position in Coty by 260.4% during the 1st quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock worth $139,000 after purchasing an additional 8,419 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in Coty during the 1st quarter valued at $146,000. Institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

COTY has been the topic of a number of research analyst reports. Barclays lowered their price target on Coty from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Piper Sandler reduced their price target on shares of Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company decreased their price target on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Bank of America dropped their price objective on shares of Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their target price on shares of Coty from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.85.

Coty Stock Performance

COTY opened at $9.39 on Friday. The stock has a 50-day moving average of $9.73 and a 200-day moving average of $10.76. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.50 and a current ratio of 0.80. Coty Inc. has a 52-week low of $8.79 and a 52-week high of $13.30. The company has a market cap of $8.15 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91.

Coty (NYSE:COTY) last announced its earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Coty had a return on equity of 8.75% and a net margin of 3.59%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that Coty Inc. will post 0.44 earnings per share for the current fiscal year.

Coty Company Profile

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.