Swiss National Bank Cuts Stake in Coty Inc. (NYSE:COTY)

Swiss National Bank reduced its stake in Coty Inc. (NYSE:COTY) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 762,401 shares of the company’s stock after selling 30,000 shares during the period. Swiss National Bank owned approximately 0.09% of Coty worth $7,159,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its stake in shares of Coty by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Coty by 10.6% during the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after buying an additional 1,414 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Coty by 3.8% during the third quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company’s stock valued at $397,000 after buying an additional 1,545 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after buying an additional 2,385 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Coty by 2.3% during the second quarter. Arizona State Retirement System now owns 112,773 shares of the company’s stock valued at $1,130,000 after buying an additional 2,500 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COTY has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Coty from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 target price on shares of Coty in a report on Tuesday, October 15th. TD Cowen downgraded Coty from a “buy” rating to a “hold” rating and lowered their target price for the company from $11.00 to $8.50 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coty currently has a consensus rating of “Moderate Buy” and an average target price of $11.56.

Coty Stock Up 2.9 %

Shares of COTY opened at $7.53 on Tuesday. The company has a market capitalization of $6.55 billion, a PE ratio of 44.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.91. The business’s 50 day moving average is $8.21 and its 200 day moving average is $9.28. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. Coty Inc. has a 12-month low of $6.93 and a 12-month high of $13.30.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.16%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. Research analysts expect that Coty Inc. will post 0.51 earnings per share for the current fiscal year.

About Coty

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.