Coty Inc. (COTY) Sees Significant Increase in Short Interest
Coty Inc. (NYSE:COTY) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 21,353,327 shares, an increase of 26.0% from the August 31st total of 16,945,089 shares. Based on an average daily volume of 4,605,456 shares, the days-to-cover ratio is presently 4.6 days. Approximately 54.5% of the shares of the company are sold short.
Coty (NYSE:COTY) opened at 23.50 on Friday. The firm has a market cap of $7.90 billion, a PE ratio of 53.41 and a beta of 0.37. The firm’s 50 day moving average price is $25.83 and its 200-day moving average price is $26.93. Coty has a one year low of $21.48 and a one year high of $31.60.
Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 16th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. Coty had a return on equity of 80.72% and a net margin of 3.61%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company posted $0.08 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Coty will post $1.11 EPS for the current fiscal year.
A number of analysts have recently commented on the company. B. Riley restated a “sell” rating and issued a $19.50 target price on shares of Coty in a research note on Monday, June 20th. Barclays PLC restated a “hold” rating on shares of Coty in a research note on Saturday, July 9th. Zacks Investment Research downgraded Coty from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 22nd. Citigroup Inc. upped their target price on Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $32.00 target price on shares of Coty in a research note on Thursday, August 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Coty presently has a consensus rating of “Hold” and a consensus price target of $27.66.
In related news, major shareholder Cosmetics B.V. Jab bought 75,000 shares of the stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $26.89 per share, for a total transaction of $2,016,750.00. Following the completion of the purchase, the insider now directly owns 6,469,861 shares of the company’s stock, valued at $173,974,562.29. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sebastien Froidefond sold 3,983 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $27.02, for a total value of $107,620.66. Following the completion of the sale, the senior vice president now owns 20,862 shares in the company, valued at approximately $563,691.24. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in COTY. Royal Bank of Canada raised its position in Coty by 50.9% in the second quarter. Royal Bank of Canada now owns 71,454 shares of the company’s stock worth $1,857,000 after buying an additional 24,095 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Coty by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 153,433 shares of the company’s stock worth $3,988,000 after buying an additional 8,808 shares in the last quarter. Stifel Financial Corp raised its position in Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock worth $245,000 after buying an additional 212 shares in the last quarter. Aristotle Capital Management LLC raised its position in Coty by 1.5% in the second quarter. Aristotle Capital Management LLC now owns 4,569,616 shares of the company’s stock worth $118,764,000 after buying an additional 67,706 shares in the last quarter. Finally, FDx Advisors Inc. bought a new position in Coty during the second quarter worth about $205,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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