Optas LLC Invests $73,000 in Coty $COTY

Optas LLC purchased a new position in Coty (NYSE:COTY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,801 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in shares of Coty by 270.4% in the first quarter. Janney Montgomery Scott LLC now owns 142,219 shares of the company’s stock worth $778,000 after purchasing an additional 103,828 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Coty by 10.5% in the 1st quarter. Ameriprise Financial Inc. now owns 22,346,995 shares of the company’s stock valued at $122,239,000 after purchasing an additional 2,132,613 shares in the last quarter. Compass Wealth Management LLC raised its holdings in shares of Coty by 33.2% in the 1st quarter. Compass Wealth Management LLC now owns 623,325 shares of the company’s stock valued at $3,410,000 after purchasing an additional 155,450 shares in the last quarter. Graphene Investments SAS lifted its position in shares of Coty by 36.0% in the 1st quarter. Graphene Investments SAS now owns 518,300 shares of the company’s stock worth $2,835,000 after purchasing an additional 137,100 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Coty by 28.8% in the 1st quarter. Invesco Ltd. now owns 1,761,954 shares of the company’s stock worth $9,638,000 after purchasing an additional 393,971 shares during the period. 42.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI lowered their price target on shares of Coty from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coty in a research report on Wednesday. Bank of America lowered their price target 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. Citigroup restated a “neutral” rating and issued a $4.25 price target (down from $6.50) on shares of Coty in a report on Thursday, August 21st. Finally, Royal Bank Of Canada lowered their price target on shares of Coty from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.06.

Coty Stock Down 5.6%

NYSE:COTY opened at $4.20 on Friday. Coty has a fifty-two week low of $3.67 and a fifty-two week high of $9.26. The stock has a market capitalization of $3.66 billion, a P/E ratio of -9.55, a P/E/G ratio of 0.30 and a beta of 1.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 0.77. The company’s 50-day simple moving average is $4.32 and its 200-day simple moving average is $4.75.

Coty (NYSE:COTY) last announced its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company 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 business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, equities analysts anticipate that Coty will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Coty

In related news, CFO Laurent Mercier acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $3.96 per share, with a total value of $49,500.00. Following the transaction, the chief financial officer directly owned 402,216 shares of the company’s stock, valued at $1,592,775.36. This trade represents a 3.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Priya Srinivasan acquired 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 37,509 shares in the company, valued at $144,034.56. The trade was a 399.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 334,900 shares of company stock valued at $1,321,840. Company insiders own 5.90% 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.