Putnam Investments LLC Sells 23,682 Shares of Coty Inc (NYSE:COTY)

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Putnam Investments LLC lessened its position in Coty Inc (NYSE:COTY) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,266,998 shares of the company’s stock after selling 23,682 shares during the quarter. Putnam Investments LLC owned 0.43% of Coty worth $43,777,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Coty by 21.9% in the 2nd quarter. Invesco Ltd. now owns 8,502,059 shares of the company’s stock worth $113,927,000 after acquiring an additional 1,527,527 shares during the last quarter. Private Advisor Group LLC increased its stake in Coty by 108.7% in the 2nd quarter. Private Advisor Group LLC now owns 57,792 shares of the company’s stock worth $774,000 after buying an additional 30,101 shares during the period. US Bancorp DE increased its stake in Coty by 14.3% in the 2nd quarter. US Bancorp DE now owns 11,518 shares of the company’s stock worth $154,000 after buying an additional 1,441 shares during the period. Parametric Portfolio Associates LLC increased its stake in Coty by 1.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,168,547 shares of the company’s stock worth $42,459,000 after buying an additional 47,054 shares during the period. Finally, H2O AM LLP purchased a new position in Coty in the 2nd quarter worth about $4,656,000. Hedge funds and other institutional investors own 37.89% of the company’s stock.

NYSE COTY traded down $0.21 during trading on Thursday, reaching $10.28. 108,045 shares of the company’s stock traded hands, compared to its average volume of 5,329,211. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.94 and a quick ratio of 0.61. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company’s 50 day simple moving average is $9.87 and its two-hundred day simple moving average is $11.37. Coty Inc has a 12-month low of $5.91 and a 12-month high of $14.14.

Coty (NYSE:COTY) last posted its earnings results on Wednesday, August 28th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.11 billion. Coty had a negative net margin of 43.76% and a positive return on equity of 6.89%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Research analysts expect that Coty Inc will post 0.68 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.125 per share. This represents a yield of 5.3%. The ex-dividend date of this dividend is Friday, September 6th. Coty’s dividend payout ratio (DPR) is 76.92%.

In other news, CEO Pierre Laubies acquired 262,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $9.54 per share, with a total value of $2,499,480.00. Following the transaction, the chief executive officer now directly owns 3,218,675 shares in the company, valued at $30,706,159.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Fiona Hughes acquired 210,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $9.81 per share, for a total transaction of $2,060,100.00. Following the transaction, the chief marketing officer now owns 210,000 shares in the company, valued at $2,060,100. The disclosure for this purchase can be found here. Insiders have acquired a total of 507,000 shares of company stock worth $4,885,580 in the last three months. Insiders own 1.20% of the company’s stock.

COTY has been the topic of several recent analyst reports. Exane BNP Paribas initiated coverage on shares of Coty in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $17.00 price target on the stock. ValuEngine downgraded shares of Coty from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. DA Davidson raised their price target on shares of Coty from $10.00 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley reduced their price target on shares of Coty from $10.90 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Wells Fargo & Co reduced their price target on shares of Coty from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.73.

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.

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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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