Coty Inc. (NYSE:COTY) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in shares of Coty Inc. (NYSE:COTY) by 3.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,221,805 shares of the company’s stock after selling 523,316 shares during the period. Clearbridge Investments LLC’s holdings in Coty were worth $170,093,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Securian Asset Management Inc. lifted its holdings in shares of Coty by 4.2% in the fourth quarter. Securian Asset Management Inc. now owns 31,605 shares of the company’s stock valued at $393,000 after purchasing an additional 1,268 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Coty by 4.2% in the fourth quarter. Federated Hermes Inc. now owns 46,244 shares of the company’s stock valued at $574,000 after purchasing an additional 1,871 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Coty by 3.1% in the first quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after purchasing an additional 2,012 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Coty by 4.9% in the fourth quarter. Xponance Inc. now owns 44,920 shares of the company’s stock valued at $558,000 after purchasing an additional 2,105 shares in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of Coty by 5.6% during the fourth quarter. New York Life Investment Management LLC now owns 40,653 shares of the company’s stock worth $505,000 after acquiring an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Analyst Upgrades and Downgrades

COTY has been the subject of several recent research reports. Citigroup cut their price objective on Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays cut their price objective on Coty from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. Bank of America cut their price objective on Coty from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. TD Cowen cut their price objective on Coty from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Piper Sandler cut their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.01.

Coty Stock Down 0.1 %

Coty stock traded down $0.01 during mid-day trading on Tuesday, hitting $9.95. 2,457,256 shares of the company’s stock were exchanged, compared to its average volume of 3,858,569. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.64 billion, a P/E ratio of 43.30, a P/E/G ratio of 3.42 and a beta of 1.91. Coty Inc. has a 1-year low of $9.02 and a 1-year high of $13.30. The stock has a 50 day moving average of $10.13 and a two-hundred day moving average of $11.27.

Coty (NYSE:COTY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. Coty had a net margin of 3.59% and a return on equity of 8.75%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, analysts anticipate that Coty Inc. will post 0.44 EPS for the current fiscal year.

Coty 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.