Oppenheimer Asset Management Inc. Purchases New Stake in Coty Inc (COTY)

Share on StockTwits

Oppenheimer Asset Management Inc. purchased a new stake in Coty Inc (NYSE:COTY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 280,985 shares of the company’s stock, valued at approximately $3,529,000.

A number of other hedge funds have also modified their holdings of COTY. Millennium Management LLC lifted its position in shares of Coty by 48.2% during the 1st quarter. Millennium Management LLC now owns 147,729 shares of the company’s stock worth $2,703,000 after purchasing an additional 48,080 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Coty by 11.6% during the 1st quarter. Royal Bank of Canada now owns 178,695 shares of the company’s stock worth $3,270,000 after purchasing an additional 18,588 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in shares of Coty during the 1st quarter worth $286,000. DnB Asset Management AS purchased a new stake in shares of Coty during the 2nd quarter worth $991,000. Finally, IFM Investors Pty Ltd lifted its position in shares of Coty by 43.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 23,991 shares of the company’s stock worth $338,000 after purchasing an additional 7,302 shares during the last quarter. 66.85% of the stock is owned by institutional investors.

In other Coty news, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the completion of the purchase, the insider now owns 291,138,041 shares in the company, valued at approximately $3,578,086,523.89. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert S. Singer acquired 5,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was acquired at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the director now owns 175,000 shares of the company’s stock, valued at approximately $2,100,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,655,000 shares of company stock worth $44,583,400. 1.20% of the stock is currently owned by company insiders.

NYSE COTY opened at $10.19 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.21. Coty Inc has a one year low of $9.69 and a one year high of $21.68.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. Coty’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Coty Inc will post 0.75 earnings per share for the current year.

Several brokerages recently commented on COTY. JPMorgan Chase & Co. cut their price target on shares of Coty from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 10th. Morgan Stanley upgraded shares of Coty from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $17.00 to $14.50 in a research note on Tuesday, August 28th. Societe Generale lowered shares of Coty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $24.00 price target on shares of Coty in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Coty in a research note on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Coty has an average rating of “Hold” and a consensus target price of $15.11.

Coty Profile

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.

Further Reading: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding COTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coty Inc (NYSE:COTY).

Institutional Ownership by Quarter for Coty (NYSE:COTY)

Receive News & Ratings for Coty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply