Retirement Systems of Alabama Has $10.44 Million Stock Holdings in Coty Inc. (NYSE:COTY)

Retirement Systems of Alabama lessened its position in shares of Coty Inc. (NYSE:COTY) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,041,971 shares of the company’s stock after selling 22,252 shares during the period. Retirement Systems of Alabama’s holdings in Coty were worth $10,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Coty by 15.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,053 shares of the company’s stock worth $1,069,000 after acquiring an additional 11,700 shares during the last quarter. Federated Hermes Inc. raised its position in Coty by 4.2% during the 4th quarter. Federated Hermes Inc. now owns 46,244 shares of the company’s stock worth $574,000 after purchasing an additional 1,871 shares during the last quarter. Xponance Inc. raised its position in shares of Coty by 4.9% during the fourth quarter. Xponance Inc. now owns 44,920 shares of the company’s stock worth $558,000 after acquiring an additional 2,105 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Coty by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 657,066 shares of the company’s stock worth $8,161,000 after purchasing an additional 3,146 shares during the period. Finally, Yousif Capital Management LLC boosted its position in Coty by 6.7% during the fourth quarter. Yousif Capital Management LLC now owns 177,255 shares of the company’s stock valued at $2,202,000 after acquiring an additional 11,075 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COTY has been the topic of several recent analyst reports. Bank of America dropped their price target on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler dropped their target price on shares of Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. DA Davidson raised their price target on shares of Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price objective on shares of Coty from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.85.

Coty Stock Down 0.6 %

Shares of NYSE:COTY opened at $9.96 on Friday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 3.31 and a beta of 1.91. The business’s 50 day moving average is $9.76 and its 200 day moving average is $10.84. Coty Inc. has a 12-month low of $8.79 and a 12-month high of $13.30. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last posted its earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a return on equity of 8.75% and a net margin of 3.59%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $0.01 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Coty Inc. will post 0.44 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.