MQS Management LLC Sells 18,446 Shares of Coty Inc. (NYSE:COTY)

MQS Management LLC trimmed its holdings in shares of Coty Inc. (NYSE:COTY) by 52.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,640 shares of the company’s stock after selling 18,446 shares during the quarter. MQS Management LLC’s holdings in Coty were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Coty during the fourth quarter worth approximately $67,193,000. Sea Cliff Partners Management LP purchased a new stake in Coty during the 4th quarter valued at $24,803,000. Assenagon Asset Management S.A. lifted its position in Coty by 733.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after buying an additional 1,671,897 shares during the last quarter. Prevatt Capital Ltd purchased a new position in Coty during the fourth quarter worth $19,251,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in Coty by 78.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock valued at $37,972,000 after acquiring an additional 1,395,230 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

COTY has been the subject of several analyst reports. Evercore ISI restated an “outperform” rating and issued a $15.00 target price on shares of Coty in a report on Wednesday, August 21st. Piper Sandler decreased their price objective 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. DA Davidson increased their price target on Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price target on shares of Coty in a research note on Friday, September 13th. Finally, Citigroup reduced their target price on Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Coty currently has an average rating of “Moderate Buy” and an average target price of $12.85.

Coty Stock Performance

Shares of COTY stock opened at $9.19 on Friday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 0.66 and a beta of 1.89. Coty Inc. has a 52-week low of $8.66 and a 52-week high of $13.30. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $9.49 and its 200 day moving average is $10.41.

Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) EPS 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 company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Coty Inc. will post 0.56 EPS for the current fiscal year.

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.