The Manufacturers Life Insurance Company Lowers Position in Coty Inc. (NYSE:COTY)

The Manufacturers Life Insurance Company trimmed its position in shares of Coty Inc. (NYSE:COTY) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,884 shares of the company’s stock after selling 17,049 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coty were worth $3,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in COTY. Quent Capital LLC increased its position in shares of Coty by 1,448.8% during the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock valued at $52,000 after acquiring an additional 4,810 shares during the last quarter. WealthShield Partners LLC bought a new stake in shares of Coty during the 2nd quarter worth $100,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of Coty in the 2nd quarter worth about $107,000. EntryPoint Capital LLC grew its position in Coty by 260.4% during the first quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock valued at $139,000 after buying an additional 8,419 shares during the period. Finally, Norden Group LLC bought a new stake in Coty in the first quarter worth about $146,000. Institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COTY. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 target price on shares of Coty in a research report on Friday, September 13th. DA Davidson boosted their target price on Coty from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup cut their price target on Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America lowered their price objective on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Piper Sandler cut their target price on shares of Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Coty Trading Down 2.6 %

Shares of COTY stock opened at $9.12 on Wednesday. The company has a market capitalization of $7.91 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 0.69 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 business’s fifty day moving average is $9.32 and its 200 day moving average is $10.13. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75.

Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (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 the consensus estimate of $1.38 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. On average, equities research analysts anticipate that Coty Inc. will post 0.56 EPS for the current fiscal year.

Coty 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.