Coty (COTY) Stock Price Down 1.6% After Analyst Downgrade

Coty Inc (NYSE:COTY) shares dropped 1.6% during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $23.00 to $18.00. Royal Bank of Canada currently has an outperform rating on the stock. Coty traded as low as $8.36 and last traded at $8.52. Approximately 356,836 shares changed hands during trading, a decline of 95% from the average daily volume of 7,153,487 shares. The stock had previously closed at $8.66.

Several other brokerages have also issued reports on COTY. JPMorgan Chase & Co. lowered their target price on Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 10th. Jefferies Financial Group set a $10.00 target price on Coty and gave the stock a “hold” rating in a research report on Wednesday. Morgan Stanley raised Coty from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $17.00 to $14.50 in a research report on Tuesday, August 28th. Societe Generale lowered Coty from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $24.00 target price on shares of Coty in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.32.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Yorktown Management & Research Co Inc acquired a new position in Coty during the 3rd quarter valued at about $226,000. Thompson Siegel & Walmsley LLC acquired a new position in Coty during the 3rd quarter valued at about $59,090,000. Zeke Capital Advisors LLC acquired a new position in Coty during the 3rd quarter valued at about $398,000. Tobam boosted its stake in Coty by 9.4% during the 3rd quarter. Tobam now owns 3,536,725 shares of the company’s stock valued at $44,421,000 after purchasing an additional 302,875 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Coty by 5.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 676,843 shares of the company’s stock valued at $8,501,000 after purchasing an additional 32,233 shares during the last quarter. Institutional investors own 64.12% of the company’s stock.

The company has a market cap of $8.39 billion, a PE ratio of 12.03, a PEG ratio of 1.45 and a beta of 0.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.62.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts expect that Coty Inc will post 0.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 6.02%. Coty’s dividend payout ratio is currently 72.46%.

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Coty Company Profile (NYSE:COTY)

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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