First Manhattan Co. Decreases Holdings in Coty Inc (NYSE:COTY)

First Manhattan Co. cut its holdings in Coty Inc (NYSE:COTY) by 72.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,227 shares of the company’s stock after selling 113,975 shares during the period. First Manhattan Co.’s holdings in Coty were worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COTY. Truvestments Capital LLC acquired a new stake in shares of Coty in the first quarter valued at approximately $56,000. Moody National Bank Trust Division bought a new position in shares of Coty during the first quarter worth $44,000. Beech Hill Advisors Inc. boosted its position in shares of Coty by 27.5% during the first quarter. Beech Hill Advisors Inc. now owns 39,000 shares of the company’s stock worth $448,000 after purchasing an additional 8,400 shares in the last quarter. Huntington National Bank bought a new position in shares of Coty during the first quarter worth $175,000. Finally, Washington Trust Bank bought a new position in shares of Coty during the first quarter worth $533,000. Hedge funds and other institutional investors own 66.31% of the company’s stock.

A number of brokerages recently commented on COTY. Wells Fargo & Co restated a “hold” rating and set a $11.00 price objective on shares of Coty in a report on Wednesday. Bank of America began coverage on shares of Coty in a research note on Thursday. They issued a “neutral” rating and a $12.00 price target on the stock. BMO Capital Markets lifted their target price on shares of Coty to $15.00 and gave the stock a “positive” rating in a report on Thursday. Jefferies Financial Group set a $11.00 price objective on shares of Coty and gave the company a “hold” rating in a report on Wednesday, March 27th. Finally, Citigroup downgraded shares of Coty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $12.00 in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Coty presently has a consensus rating of “Hold” and a consensus price target of $13.38.

NYSE COTY traded up $0.16 on Friday, hitting $11.73. The company’s stock had a trading volume of 38,266,995 shares, compared to its average volume of 18,585,692. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.95. Coty Inc has a 1-year low of $5.91 and a 1-year high of $14.87. The stock has a market cap of $8.81 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88.

Coty (NYSE:COTY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. Coty had a negative net margin of 13.20% and a positive return on equity of 5.78%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. Analysts predict that Coty Inc will post 0.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.26%. The ex-dividend date is Wednesday, June 5th. Coty’s dividend payout ratio is presently 72.46%.

In other Coty news, major shareholder Holdco B.V. Cottage acquired 150,000,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $11.65 per share, with a total value of $1,747,500,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by company insiders.

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Coty Company 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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