Point72 Hong Kong Ltd Reduces Stock Position in Coty Inc. (NYSE:COTY)

Point72 Hong Kong Ltd lessened its holdings in Coty Inc. (NYSE:COTY) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,524 shares of the company’s stock after selling 2,798 shares during the period. Point72 Hong Kong Ltd’s holdings in Coty were worth $136,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COTY. Envestnet Portfolio Solutions Inc. raised its stake in Coty by 9.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the period. American Century Companies Inc. raised its position in shares of Coty by 10.6% during the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after buying an additional 1,414 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Coty by 3.1% during the first quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after buying an additional 2,012 shares during the last quarter. Swiss National Bank grew its stake in shares of Coty by 0.3% in the 1st quarter. Swiss National Bank now owns 792,401 shares of the company’s stock worth $9,477,000 after buying an additional 2,300 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Coty by 2.7% during the 1st quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock valued at $1,104,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on COTY. Evercore ISI restated an “outperform” rating and set a $15.00 target price on shares of Coty in a research report on Wednesday, August 21st. DA Davidson raised their target price on shares of Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup dropped their price objective on shares of Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price objective on shares of Coty in a research note on Friday, September 13th. Finally, Wells Fargo & Company lowered their target price on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.85.

Coty Trading Up 5.0 %

Shares of Coty stock opened at $9.48 on Friday. The company has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $10.33. Coty Inc. has a 12-month low of $8.66 and a 12-month high of $13.30. 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 stock has a market cap of $8.22 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 0.69 and a beta of 1.89.

Coty (NYSE:COTY) last issued its earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a net margin of 1.46% and a return on equity of 8.05%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $0.01 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Coty Inc. will post 0.56 EPS for the current fiscal year.

About Coty

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.