Federated Hermes Inc. Reduces Stock Holdings in Coty Inc. (NYSE:COTY)

Federated Hermes Inc. reduced its position in Coty Inc. (NYSE:COTY) by 6.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 36,827 shares of the company’s stock after selling 2,652 shares during the period. Federated Hermes Inc.’s holdings in Coty were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in COTY. M&G Plc raised its stake in shares of Coty by 41.4% during the 2nd quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after purchasing an additional 149,351 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of 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 in the last quarter. Ranger Investment Management L.P. lifted its holdings in shares of Coty by 0.5% in the fourth quarter. Ranger Investment Management L.P. now owns 1,623,182 shares of the company’s stock worth $20,160,000 after buying an additional 7,910 shares in the last quarter. FIL Ltd boosted its position in shares of Coty by 10.6% in the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock valued at $178,171,000 after acquiring an additional 1,375,857 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Coty during the fourth quarter valued at approximately $1,533,000. 42.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on COTY shares. Barclays decreased their price target on shares of Coty from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Bank of America lowered their price target on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. DA Davidson boosted their price objective on Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Citigroup decreased their price objective on shares of Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their target price on shares of Coty from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Eight 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.85.

Coty Stock Up 1.1 %

Shares of COTY stock opened at $9.29 on Tuesday. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 0.66 and a beta of 1.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.75 and a quick ratio of 0.46. The company’s fifty day moving average price is $9.47 and its 200-day moving average price is $10.37. Coty Inc. has a one year low of $8.66 and a one year high of $13.30.

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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $0.01 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side 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.