Wedmont Private Capital Acquires Shares of 13,360 Coty $COTY

Wedmont Private Capital acquired a new stake in shares of Coty (NYSE:COTY) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 13,360 shares of the company’s stock, valued at approximately $66,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Coty by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company’s stock valued at $205,921,000 after buying an additional 2,055,771 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Coty by 10.5% during the 1st quarter. Ameriprise Financial Inc. now owns 22,346,995 shares of the company’s stock valued at $122,239,000 after buying an additional 2,132,613 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Coty by 162.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company’s stock valued at $23,523,000 after buying an additional 2,660,221 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Coty by 456.9% in the first quarter. AQR Capital Management LLC now owns 4,063,070 shares of the company’s stock valued at $21,981,000 after purchasing an additional 3,333,511 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Coty by 2.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 3,601,833 shares of the company’s stock valued at $19,700,000 after purchasing an additional 79,432 shares in the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Trading Down 1.8%

Shares of NYSE:COTY opened at $4.04 on Tuesday. Coty has a 12-month low of $3.67 and a 12-month high of $9.70. The company has a market capitalization of $3.52 billion, a PE ratio of -9.17, a PEG ratio of 0.27 and a beta of 2.07. The business has a 50 day moving average of $4.57 and a two-hundred day moving average of $4.89. The company has a current ratio of 0.77, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06.

Coty (NYSE:COTY) last announced its quarterly earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. As a group, analysts forecast that Coty will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

COTY has been the subject of a number of recent research reports. Jefferies Financial Group lowered shares of Coty from a “buy” rating to a “hold” rating and cut their target price for the company from $6.00 to $4.00 in a report on Thursday, August 21st. Berenberg Bank reissued a “hold” rating and issued a $5.05 target price (down from $6.50) on shares of Coty in a report on Wednesday, September 10th. Barclays cut their target price on shares of Coty from $4.50 to $3.50 and set an “underweight” rating for the company in a report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Coty from $6.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Finally, Evercore ISI cut their target price on shares of Coty from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.06.

Insiders Place Their Bets

In other Coty news, insider Priya Srinivasan bought 30,000 shares of Coty stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $3.84 per share, with a total value of $115,200.00. Following the purchase, the insider directly owned 37,509 shares in the company, valued at $144,034.56. This represents a 399.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Laurent Mercier bought 12,500 shares of Coty stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $3.96 per share, with a total value of $49,500.00. Following the completion of the purchase, the chief financial officer owned 402,216 shares in the company, valued at approximately $1,592,775.36. This trade represents a 3.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 334,900 shares of company stock valued at $1,321,840. Corporate insiders own 6.00% of the company’s stock.

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.