Texas Permanent School Fund Corp Acquires 268,547 Shares of Coty Inc. (NYSE:COTY)

Texas Permanent School Fund Corp grew its stake in Coty Inc. (NYSE:COTY) by 81.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 597,593 shares of the company’s stock after buying an additional 268,547 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Coty worth $5,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COTY. Choreo LLC purchased a new position in Coty in the 2nd quarter worth approximately $225,000. Private Advisor Group LLC boosted its stake in shares of Coty by 23.3% during the 2nd quarter. Private Advisor Group LLC now owns 119,596 shares of the company’s stock worth $1,198,000 after purchasing an additional 22,603 shares during the period. Arizona State Retirement System grew its stake in shares of Coty by 2.3% during the second quarter. Arizona State Retirement System now owns 112,773 shares of the company’s stock valued at $1,130,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. grew its position in Coty by 28.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,758,597 shares of the company’s stock valued at $27,641,000 after acquiring an additional 616,939 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Coty in the 2nd quarter worth about $588,000. Institutional investors own 42.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. DA Davidson raised their price target on Coty from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI reiterated an “outperform” rating and issued a $15.00 target price on shares of Coty in a research note on Wednesday, August 21st. Citigroup lowered their price objective on Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their target price on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price objective on Coty from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Coty has a consensus rating of “Moderate Buy” and a consensus target price of $12.85.

Coty Stock Performance

Shares of COTY stock opened at $8.87 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $7.70 billion, a P/E ratio of 38.57, a P/E/G ratio of 0.67 and a beta of 1.89. The business’s 50 day moving average is $9.61 and its two-hundred day moving average is $10.59. Coty Inc. has a 12-month low of $8.66 and a 12-month high of $13.30.

Coty (NYSE:COTY) last announced its earnings results on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Coty had a net margin of 1.46% and a return on equity of 8.05%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $0.01 EPS. Coty’s revenue was up .9% compared to the same quarter last year. Analysts expect 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.