Bank of America Corp DE Sells 774,742 Shares of Coty Inc. (NYSE:COTY)

Bank of America Corp DE reduced its stake in shares of Coty Inc. (NYSE:COTY) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,189,843 shares of the company’s stock after selling 774,742 shares during the quarter. Bank of America Corp DE owned about 0.14% of Coty worth $8,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in Coty by 12.1% in the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after acquiring an additional 2,175,120 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Coty in the 4th quarter valued at $89,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Coty by 1,102.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 321,179 shares of the company’s stock worth $2,235,000 after buying an additional 294,479 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Coty by 402.9% in the fourth quarter. AQR Capital Management LLC now owns 729,559 shares of the company’s stock valued at $5,078,000 after purchasing an additional 584,498 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Coty by 18.5% during the fourth quarter. Northern Trust Corp now owns 3,064,551 shares of the company’s stock worth $21,329,000 after buying an additional 477,626 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COTY. JPMorgan Chase & Co. decreased their price target on Coty from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their price target on shares of Coty from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Barclays reduced their price objective on shares of Coty from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus dropped their price target on Coty from $8.00 to $6.50 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $12.50 target price on shares of Coty in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Coty presently has an average rating of “Hold” and a consensus price target of $7.80.

Coty Stock Performance

NYSE COTY opened at $4.79 on Monday. The company’s 50 day moving average is $5.09 and its 200-day moving average is $6.19. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85. Coty Inc. has a 12-month low of $4.46 and a 12-month high of $10.80. The firm has a market cap of $4.17 billion, a P/E ratio of -478.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.90.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Coty had a net margin of 0.22% and a return on equity of 6.34%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted $0.05 EPS. Coty’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts predict that Coty Inc. will post 0.39 earnings per share for the current 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.