Strs Ohio Acquires 32,645 Shares of Coty Inc (COTY)
Strs Ohio raised its holdings in Coty Inc (NYSE:COTY) by 100.6% during the 2nd quarter, Holdings Channel reports. The firm owned 65,080 shares of the company’s stock after acquiring an additional 32,645 shares during the period. Strs Ohio’s holdings in Coty were worth $917,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the business. LS Investment Advisors LLC raised its position in shares of Coty by 15.9% in the first quarter. LS Investment Advisors LLC now owns 25,339 shares of the company’s stock worth $464,000 after acquiring an additional 3,470 shares during the period. Bayesian Capital Management LP raised its position in shares of Coty by 6.3% in the first quarter. Bayesian Capital Management LP now owns 69,411 shares of the company’s stock worth $1,270,000 after acquiring an additional 4,100 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Coty by 15.5% in the first quarter. PNC Financial Services Group Inc. now owns 33,010 shares of the company’s stock worth $606,000 after acquiring an additional 4,418 shares during the period. Financial Advantage Inc. raised its position in shares of Coty by 5.5% in the second quarter. Financial Advantage Inc. now owns 91,830 shares of the company’s stock worth $1,294,000 after acquiring an additional 4,780 shares during the period. Finally, Eos Focused Equity Management L.P. raised its position in shares of Coty by 3.8% in the first quarter. Eos Focused Equity Management L.P. now owns 143,790 shares of the company’s stock worth $2,631,000 after acquiring an additional 5,278 shares during the period. 66.49% of the stock is currently owned by institutional investors.
In related news, Director Robert S. Singer purchased 5,000 shares of Coty stock in a transaction that occurred on Monday, August 27th. The stock was purchased at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the transaction, the director now directly owns 175,000 shares in the company, valued at $2,100,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cosmetics B.V. Jab purchased 2,600,000 shares of Coty stock in a transaction that occurred on Tuesday, August 28th. The shares were bought at an average price of $12.29 per share, with a total value of $31,954,000.00. Following the transaction, the insider now owns 291,138,041 shares in the company, valued at $3,578,086,523.89. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,655,000 shares of company stock valued at $44,583,400. Insiders own 1.00% of the company’s stock.
Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts expect that Coty Inc will post 0.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 3.92%. Coty’s dividend payout ratio (DPR) is presently 72.46%.
A number of research analysts have weighed in on COTY shares. JPMorgan Chase & Co. decreased their price objective on shares of Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 10th. Wells Fargo & Co reiterated a “hold” rating on shares of Coty in a research report on Tuesday, July 17th. Morgan Stanley decreased their price objective on shares of Coty from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, June 21st. Citigroup set a $18.00 price objective on shares of Coty and gave the stock a “buy” rating in a research report on Thursday, May 31st. Finally, Barclays set a $15.00 price objective on shares of Coty and gave the stock a “hold” rating in a research report on Wednesday, August 22nd. 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 presently has a consensus rating of “Hold” and an average price target of $15.40.
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
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