Coty Inc. (COTY) Receives “Buy” Rating from BMO Capital Markets
Several other brokerages have also recently issued reports on COTY. Zacks Investment Research cut shares of Coty from a hold rating to a sell rating in a research note on Friday, August 25th. BidaskClub upgraded shares of Coty from a strong sell rating to a sell rating in a research report on Thursday, July 27th. KeyCorp restated a hold rating on shares of Coty in a research report on Friday, August 25th. Royal Bank Of Canada restated a hold rating and set a $22.00 target price on shares of Coty in a research report on Thursday, June 8th. Finally, Morgan Stanley decreased their target price on shares of Coty from $22.00 to $19.00 and set an equal weight rating on the stock in a research report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Coty currently has an average rating of Hold and a consensus price target of $20.04.
Shares of Coty (COTY) traded down 0.12% during mid-day trading on Thursday, reaching $16.88. 3,871,509 shares of the company were exchanged. Coty has a 12 month low of $15.83 and a 12 month high of $24.74. The stock has a 50 day moving average price of $16.82 and a 200-day moving average price of $18.28. The stock’s market capitalization is $12.64 billion.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were given a $0.125 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.96%. Coty’s dividend payout ratio is presently -87.72%.
In other Coty news, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average cost of $16.30 per share, for a total transaction of $42,380,000.00. Following the transaction, the insider now directly owns 276,408,041 shares of the company’s stock, valued at $4,505,451,068.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Camillo Pane acquired 48,485 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $16.50 per share, for a total transaction of $800,002.50. Following the completion of the transaction, the chief executive officer now directly owns 336,142 shares in the company, valued at $5,546,343. The disclosure for this purchase can be found here. Insiders purchased a total of 2,979,505 shares of company stock worth $48,661,242 over the last quarter. Insiders own 1.00% of the company’s stock.
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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