HighTower Advisors LLC Sells 1,771 Shares of Coty Inc. (NYSE:COTY)

Posted by on May 19th, 2023

HighTower Advisors LLC cut its stake in shares of Coty Inc. (NYSE:COTY – Get Rating) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 716,771 shares of the company’s stock after selling 1,771 shares during the quarter. HighTower Advisors LLC owned about 0.09% of Coty worth $6,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COTY. Edmond DE Rothschild Holding S.A. boosted its position in shares of Coty by 20.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,522,505 shares of the company’s stock valued at $30,153,000 after buying an additional 600,000 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Coty by 3,246.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,196,095 shares of the company’s stock valued at $27,359,000 after buying an additional 3,100,589 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Coty by 20.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,289 shares of the company’s stock worth $157,000 after purchasing an additional 3,098 shares during the last quarter. Nordea Investment Management AB purchased a new position in Coty in the fourth quarter worth about $5,264,000. Finally, Swiss National Bank lifted its position in shares of Coty by 1.8% during the 4th quarter. Swiss National Bank now owns 810,401 shares of the company’s stock valued at $6,937,000 after buying an additional 14,400 shares in the last quarter. 37.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COTY. Raymond James lifted their target price on Coty from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, April 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Coty in a research note on Thursday, February 9th. Citigroup assumed coverage on Coty in a research report on Thursday, February 16th. They set a “neutral” rating and a $15.00 target price on the stock. DA Davidson reissued a “buy” rating and set a $13.00 target price on shares of Coty in a research report on Wednesday, February 22nd. Finally, Barclays boosted their price objective on Coty from $11.00 to $12.00 in a report on Thursday, May 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.44.

Coty Trading Up 0.3 %

Shares of NYSE:COTY opened at $11.33 on Friday. The business’s 50-day moving average is $11.68 and its 200 day moving average is $9.96. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.69 and a quick ratio of 0.40. The firm has a market capitalization of $9.66 billion, a P/E ratio of 56.65, a P/E/G ratio of 1.34 and a beta of 1.85. Coty Inc. has a 1 year low of $5.90 and a 1 year high of $12.64.

Coty (NYSE:COTY – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. Coty had a return on equity of 12.81% and a net margin of 3.55%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $0.03 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Coty Inc. will post 0.54 earnings per share for the current fiscal year.

About Coty

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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focus on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.

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Institutional Ownership by Quarter for Coty (NYSE:COTY)

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