Norges Bank Takes $44.40 Million Position in Coty Inc. (NYSE:COTY)

Norges Bank bought a new stake in shares of Coty Inc. (NYSE:COTY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,379,402 shares of the company’s stock, valued at approximately $44,401,000. Norges Bank owned about 0.73% of Coty as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of COTY. Caisse Des Depots ET Consignations bought a new position in Coty during the fourth quarter valued at $19,663,000. JPMorgan Chase & Co. lifted its holdings in shares of Coty by 10.8% in the 4th quarter. JPMorgan Chase & Co. now owns 823,552 shares of the company’s stock worth $5,732,000 after acquiring an additional 80,107 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Coty by 6.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 993,078 shares of the company’s stock worth $6,763,000 after purchasing an additional 59,568 shares during the period. Parametrica Management Ltd bought a new position in Coty during the 4th quarter valued at about $119,000. Finally, Jackson Thornton Wealth Management LLC purchased a new stake in Coty in the 4th quarter worth about $91,000. Institutional investors own 42.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COTY has been the subject of several recent analyst reports. Barclays dropped their target price on Coty from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Evercore ISI dropped their price objective on Coty from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group reduced their target price on Coty from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group lowered their target price on shares of Coty from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Coty in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.55.

Coty Trading Down 3.6 %

COTY opened at $5.03 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -502.50, a PEG ratio of 0.81 and a beta of 1.97. Coty Inc. has a 12 month low of $4.77 and a 12 month high of $11.81. The stock has a fifty day moving average price of $5.95 and a 200-day moving average price of $7.10.

Coty (NYSE:COTY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. As a group, equities research analysts anticipate that Coty Inc. will post 0.39 earnings per share 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.