First Eagle Investment Management LLC Acquires New Position in Coty Inc. (NYSE:COTY)

First Eagle Investment Management LLC bought a new position in shares of Coty Inc. (NYSE:COTY) during the fourth quarter, HoldingsChannel reports. The firm bought 43,568 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds also recently made changes to their positions in COTY. Amundi lifted its stake in Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after purchasing an additional 4,478,906 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Coty by 42.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock worth $52,984,000 after buying an additional 1,687,045 shares during the last quarter. Barclays PLC lifted its position in shares of Coty by 147.1% in the 3rd quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock worth $10,947,000 after buying an additional 693,961 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Coty by 11.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,450,073 shares of the company’s stock valued at $60,566,000 after buying an additional 656,952 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Coty by 17.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,134,276 shares of the company’s stock worth $21,815,000 after purchasing an additional 466,772 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.

Coty Price Performance

Shares of Coty stock opened at $5.51 on Monday. Coty Inc. has a 52 week low of $5.35 and a 52 week high of $12.53. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $6.41 and its two-hundred day moving average price is $7.46. The stock has a market cap of $4.80 billion, a PE ratio of -550.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.97.

Coty (NYSE:COTY) last released its earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 6.34% and a net margin of 0.22%. As a group, sell-side analysts anticipate that Coty Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

COTY has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their price objective on shares of Coty from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Piper Sandler reduced their target price on shares of Coty from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Barclays cut their price target on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Coty in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Coty currently has a consensus rating of “Moderate Buy” and an average target price of $9.89.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.