Short Interest in Coty Inc. (NYSE:COTY) Declines By 5.5%

Coty Inc. (NYSE:COTY) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 14,620,000 shares, a decline of 5.5% from the September 30th total of 15,470,000 shares. Based on an average trading volume of 4,570,000 shares, the short-interest ratio is presently 3.2 days. Currently, 4.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Coty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Coty by 330.3% during the 3rd quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after acquiring an additional 2,385 shares during the period. Quent Capital LLC raised its stake in Coty by 1,448.8% in the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock valued at $52,000 after purchasing an additional 4,810 shares in the last quarter. WealthShield Partners LLC bought a new stake in Coty during the second quarter worth about $100,000. Fifth Third Wealth Advisors LLC acquired a new stake in Coty during the second quarter worth about $107,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Coty by 9.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock valued at $124,000 after buying an additional 1,104 shares during the period. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Coty Price Performance

Shares of NYSE COTY opened at $7.49 on Friday. The firm has a market cap of $6.50 billion, a P/E ratio of 93.56, a price-to-earnings-growth ratio of 1.12 and a beta of 1.89. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. Coty has a 1-year low of $7.34 and a 1-year high of $13.30. The business’s 50 day moving average is $8.83 and its 200-day moving average is $9.75.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a return on equity of 8.05% and a net margin of 1.46%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $0.01 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts predict that Coty will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

COTY has been the subject of several research reports. Piper Sandler decreased their price target on shares of Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Coty in a research report on Tuesday, October 15th. Barclays cut their price target on shares of Coty from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on Coty from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their target price on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.15.

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.