Clearbridge Investments LLC Trims Holdings in Coty Inc. (NYSE:COTY)

Clearbridge Investments LLC decreased its holdings in Coty Inc. (NYSE:COTY) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,221,805 shares of the company’s stock after selling 523,316 shares during the period. Clearbridge Investments LLC owned about 1.59% of Coty worth $170,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COTY. Vanguard Group Inc. increased its stake in shares of Coty by 12.1% during the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock valued at $430,920,000 after buying an additional 4,245,039 shares during the period. Ranger Investment Management L.P. increased its stake in shares of Coty by 0.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,623,182 shares of the company’s stock valued at $20,160,000 after buying an additional 7,910 shares during the period. FIL Ltd increased its stake in shares of Coty by 10.6% during the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock valued at $178,171,000 after buying an additional 1,375,857 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Coty during the fourth quarter valued at $1,533,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Coty during the fourth quarter valued at $4,232,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

COTY stock traded down $0.01 during trading on Tuesday, hitting $9.95. 2,457,256 shares of the company traded hands, compared to its average volume of 3,858,569. The stock’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $11.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.80 and a quick ratio of 0.50. The company has a market cap of $8.64 billion, a PE 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.

Coty (NYSE:COTY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Coty had a net margin of 3.59% and a return on equity of 8.75%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. On average, equities analysts expect that Coty Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COTY. Piper Sandler dropped their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Citigroup dropped their price objective on Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays dropped their price objective on Coty from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, April 12th. Bank of America dropped their price objective on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group began coverage on Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.01.

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.