Coty Inc. (COTY) Major Shareholder Cosmetics B.V. Jab Acquires 2,600,000 Shares of Stock
Coty Inc. (NYSE:COTY) major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of $16.30 per share, with a total value of $42,380,000.00. Following the completion of the purchase, the insider now directly owns 276,408,041 shares of the company’s stock, valued at approximately $4,505,451,068.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Coty Inc. (NYSE COTY) opened at 16.09 on Tuesday. The firm’s market capitalization is $12.05 billion. Coty Inc. has a 52 week low of $15.83 and a 52 week high of $27.98. The firm’s 50-day moving average price is $19.06 and its 200 day moving average price is $18.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.11%. Coty’s dividend payout ratio is -87.72%.
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Several equities analysts recently commented on the company. Barclays PLC set a $19.00 target price on Coty and gave the company a “hold” rating in a research note on Saturday, May 13th. Bank of America Corporation dropped their target price on Coty from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. KeyCorp reiterated a “hold” rating on shares of Coty in a research note on Friday. Stifel Nicolaus set a $25.00 target price on Coty and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price (up from $17.00) on shares of Coty in a research note on Wednesday, August 23rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Coty has an average rating of “Hold” and a consensus price target of $20.75.
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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