Voya Investment Management LLC Reduces Stake in Coty $COTY

Voya Investment Management LLC trimmed its stake in Coty (NYSE:COTY) by 73.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,171 shares of the company’s stock after selling 136,474 shares during the quarter. Voya Investment Management LLC’s holdings in Coty were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Coty by 1.8% during the 1st quarter. Rhumbline Advisers now owns 993,430 shares of the company’s stock valued at $5,434,000 after buying an additional 17,709 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Coty in the 1st quarter worth $73,000. Bayforest Capital Ltd bought a new position in shares of Coty in the 1st quarter worth $219,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Coty by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,221 shares of the company’s stock valued at $7,101,000 after purchasing an additional 86,534 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Coty during the 1st quarter valued at $131,000. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coty

In other Coty news, insider Priya Srinivasan purchased 30,000 shares of Coty stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $3.84 per share, with a total value of $115,200.00. Following the transaction, the insider owned 37,509 shares of the company’s stock, valued at $144,034.56. This represents a 399.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sue Nabi purchased 260,000 shares of Coty stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the completion of the transaction, the chief executive officer directly owned 32,127,286 shares in the company, valued at $125,938,961.12. The trade was a 0.82% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 334,900 shares of company stock valued at $1,321,840 over the last 90 days. Company insiders own 6.00% of the company’s stock.

Coty Price Performance

Coty stock opened at $4.02 on Tuesday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -9.12, a PEG ratio of 0.27 and a beta of 2.07. The firm’s fifty day moving average is $4.47 and its 200 day moving average is $4.83. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. Coty has a 52-week low of $3.67 and a 52-week high of $9.59.

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

Wall Street Analyst Weigh In

COTY has been the subject of several research analyst reports. Bank of America dropped their target price on shares of Coty from $4.00 to $3.50 and set an “underperform” rating for the company in a research report on Friday, August 22nd. Berenberg Bank reaffirmed a “hold” rating and issued a $5.05 target price (down from $6.50) on shares of Coty in a research report on Wednesday, September 10th. Barclays lowered their price target on shares of Coty from $4.50 to $3.50 and set an “underweight” rating for the company in a research report on Friday, August 22nd. Jefferies Financial Group lowered shares of Coty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $4.00 in a research note on Thursday, August 21st. Finally, Wells Fargo & Company reduced their price target on shares of Coty from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Coty currently has an average rating of “Hold” and a consensus price target of $6.06.

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.