Coty Inc. (NYSE:COTY) Short Interest Up 8.9% in July

Coty Inc. (NYSE:COTY) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 15,190,000 shares, an increase of 8.9% from the July 15th total of 13,950,000 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 3,720,000 shares, the days-to-cover ratio is currently 4.1 days.

Coty Stock Performance

NYSE:COTY traded down $0.08 during mid-day trading on Monday, hitting $9.55. 5,764,523 shares of the company’s stock traded hands, compared to its average volume of 3,922,371. 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 firm has a 50 day moving average of $9.76 and a two-hundred day moving average of $10.89. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91. Coty has a 12 month low of $8.79 and a 12 month high of $13.30.

Institutional Investors Weigh In On Coty

Several institutional investors and hedge funds have recently bought and sold shares of COTY. Envestnet Portfolio Solutions Inc. lifted its stake in Coty by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after purchasing an additional 1,104 shares during the period. Securian Asset Management Inc. raised its stake 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 acquiring an additional 1,268 shares during the last quarter. American Century Companies Inc. increased its holdings in Coty by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after purchasing an additional 1,414 shares in the last quarter. Federated Hermes Inc. raised its position in Coty by 4.2% in the 4th 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 during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Coty by 3.1% in the first quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock worth $789,000 after purchasing an additional 2,012 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on COTY. DA Davidson decreased their price target on shares of Coty from $17.50 to $16.50 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Piper Sandler lowered their target price on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company dropped their price target on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Bank of America reduced their target price on shares of Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup lowered their target price on shares of Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.94.

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.