Courier Capital LLC lowered its stake in Coty Inc (NYSE:COTY) by 18.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,956 shares of the company’s stock after selling 4,810 shares during the period. Courier Capital LLC’s holdings in Coty were worth $263,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in COTY. Point72 Asia Hong Kong Ltd acquired a new position in shares of Coty during the 1st quarter worth about $105,000. Rothschild Investment Corp IL acquired a new position in shares of Coty during the 2nd quarter worth about $159,000. TLP Group LLC acquired a new position in shares of Coty during the 1st quarter worth about $224,000. Intact Investment Management Inc. acquired a new position in shares of Coty during the 2nd quarter worth about $230,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Coty during the 2nd quarter worth about $237,000. 66.84% of the stock is owned by institutional investors.
In other news, major shareholder Cosmetics B.V. Jab purchased 1,030,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were purchased at an average cost of $11.98 per share, for a total transaction of $12,339,400.00. Following the completion of the purchase, the insider now directly owns 291,138,041 shares of the company’s stock, valued at approximately $3,487,833,731.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert S. Singer purchased 20,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average price of $11.50 per share, for a total transaction of $230,000.00. Following the completion of the purchase, the director now directly owns 175,000 shares of the company’s stock, valued at $2,012,500. The disclosure for this purchase can be found here. Insiders have purchased 3,655,000 shares of company stock worth $44,583,400 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.
Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. Coty’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Coty Inc will post 0.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.50 annualized dividend and a yield of 4.53%. Coty’s dividend payout ratio is 72.46%.
Several equities analysts recently weighed in on the company. Wells Fargo & Co cut their price objective on Coty from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 22nd. BMO Capital Markets reissued a “market perform” rating and set a $24.00 price objective on shares of Coty in a research report on Wednesday, August 22nd. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. Societe Generale cut Coty from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, Citigroup cut their price objective on Coty from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 23rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.40.
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.
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