Canaccord Genuity Group Initiates Coverage on Coty (NYSE:COTY)

Canaccord Genuity Group assumed coverage on shares of Coty (NYSE:COTY) in a report released on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $14.00 price objective on the stock.

Several other brokerages also recently commented on COTY. TheStreet raised Coty from a c+ rating to a b- rating in a research report on Thursday, February 8th. Wells Fargo & Company lifted their price objective on Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a report on Friday, February 9th. TD Cowen raised Coty from a market perform rating to an outperform rating and lifted their price objective for the stock from $13.00 to $16.00 in a report on Thursday, February 22nd. DA Davidson reissued a buy rating and set a $17.50 price objective on shares of Coty in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an outperform rating and set a $14.00 price objective on shares of Coty in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Coty presently has a consensus rating of Hold and a consensus price target of $13.19.

Coty Stock Up 4.0 %

Shares of COTY stock opened at $11.05 on Monday. The stock’s 50 day simple moving average is $11.95 and its 200 day simple moving average is $11.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. Coty has a twelve month low of $9.02 and a twelve month high of $13.46. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 5.98 and a beta of 1.82.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. As a group, research analysts predict that Coty will post 0.45 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the transaction, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert S. Singer sold 90,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the transaction, the director now owns 169,982 shares of the company’s stock, valued at $2,134,973.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert S. Singer sold 30,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the transaction, the director now directly owns 120,000 shares in the company, valued at approximately $1,524,000. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Coty

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Coty by 20.0% in the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after buying an additional 7,760,564 shares during the period. Vanguard Group Inc. increased its holdings in shares of Coty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock worth $494,022,000 after acquiring an additional 494,639 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Coty by 123.3% in the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock worth $151,598,000 after acquiring an additional 9,311,527 shares in the last quarter. FIL Ltd increased its holdings in shares of Coty by 10.6% in the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock worth $178,171,000 after acquiring an additional 1,375,857 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Coty by 3.8% in the third quarter. Ameriprise Financial Inc. now owns 11,060,293 shares of the company’s stock worth $121,331,000 after acquiring an additional 406,769 shares in the last quarter. Institutional investors and hedge funds own 42.36% 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.