Coty Inc. (COTY) PT Lowered to $19.00
Coty Inc. (NYSE:COTY) had its price target decreased by Morgan Stanley from $22.00 to $19.00 in a research report released on Wednesday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other analysts also recently issued reports on COTY. Barclays PLC set a $19.00 price target on shares of Coty and gave the company a hold rating in a report on Saturday, May 13th. Jefferies Group LLC initiated coverage on shares of Coty in a report on Friday, June 2nd. They issued a hold rating and a $17.00 target price on the stock. Royal Bank Of Canada restated a hold rating and issued a $22.00 target price on shares of Coty in a report on Thursday, June 8th. Societe Generale initiated coverage on shares of Coty in a report on Monday, June 12th. They issued a buy rating and a $21.00 target price on the stock. Finally, BidaskClub downgraded shares of Coty from a sell rating to a strong sell rating in a report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Coty has a consensus rating of Hold and a consensus target price of $20.75.
Coty (NYSE:COTY) traded up 0.99% during midday trading on Wednesday, hitting $16.40. The company had a trading volume of 10,229,679 shares. The firm’s market capitalization is $12.28 billion. Coty has a 52 week low of $15.83 and a 52 week high of $27.98. The firm’s 50 day moving average is $19.06 and its 200-day moving average is $18.76.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Friday, September 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.50 annualized dividend and a yield of 3.05%. Coty’s payout ratio is -87.72%.
In other news, insider Sebastien Froidefond purchased 13,461 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $18.95 per share, for a total transaction of $255,085.95. Following the acquisition, the insider now owns 62,640 shares of the company’s stock, valued at approximately $1,187,028. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laurent Kleitman purchased 4,400 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were purchased at an average price of $18.63 per share, for a total transaction of $81,972.00. Following the completion of the acquisition, the insider now directly owns 35,400 shares in the company, valued at approximately $659,502. The disclosure for this purchase can be found here. Insiders have purchased a total of 83,400 shares of company stock worth $1,587,821 over the last quarter. 16.10% of the stock is currently owned by insiders.
Coty Company Profile
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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