Shikiar Asset Management Inc. Has $2.65 Million Stock Holdings in Coty Inc. (NYSE:COTY)

Shikiar Asset Management Inc. cut its holdings in shares of Coty Inc. (NYSE:COTY) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 281,700 shares of the company’s stock after selling 25,200 shares during the period. Shikiar Asset Management Inc.’s holdings in Coty were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its holdings in Coty by 789.3% in the second quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company’s stock valued at $55,932,000 after buying an additional 4,954,362 shares during the period. SG Americas Securities LLC raised its position in shares of Coty by 1,798.5% during the 3rd quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company’s stock valued at $17,346,000 after acquiring an additional 1,750,021 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Coty by 733.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock valued at $19,038,000 after purchasing an additional 1,671,897 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Coty by 78.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock worth $37,972,000 after purchasing an additional 1,395,230 shares during the last quarter. Finally, FIL Ltd grew 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 worth $178,171,000 after purchasing an additional 1,375,857 shares during the period. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COTY has been the topic of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 target price on shares of Coty in a research note on Friday, September 13th. Piper Sandler reduced their price objective on shares of Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Coty in a research note on Wednesday, August 21st. Wells Fargo & Company cut their target price 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, Jefferies Financial Group raised shares of Coty from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.93.

Coty Stock Performance

Shares of COTY stock opened at $9.21 on Friday. Coty Inc. has a 12 month low of $8.66 and a 12 month high of $13.30. The company’s fifty day simple moving average is $9.28 and its 200-day simple moving average is $10.08. The firm has a market cap of $7.99 billion, a PE ratio of 40.04, a P/E/G ratio of 0.67 and a beta of 1.89. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Coty had a return on equity of 8.05% and a net margin of 1.46%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. Equities research analysts expect that Coty Inc. will post 0.56 EPS 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.