Bank of New York Mellon Corp Buys 234,768 Shares of Coty Inc. (NYSE:COTY)

Bank of New York Mellon Corp raised its position in Coty Inc. (NYSE:COTY - Free Report) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,039,384 shares of the company's stock after purchasing an additional 234,768 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of Coty worth $21,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COTY. Allworth Financial LP boosted its position in Coty by 145.0% during the 4th quarter. Allworth Financial LP now owns 5,623 shares of the company's stock worth $42,000 after acquiring an additional 3,328 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Coty by 124.8% during the 4th quarter. Blue Trust Inc. now owns 6,984 shares of the company's stock worth $49,000 after buying an additional 3,877 shares during the last quarter. R Squared Ltd bought a new position in shares of Coty in the 4th quarter valued at about $54,000. Truist Financial Corp acquired a new stake in shares of Coty in the fourth quarter valued at about $71,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Coty during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 42.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen downgraded Coty from a "buy" rating to a "hold" rating and decreased their price target for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. The Goldman Sachs Group decreased their target price on shares of Coty from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Coty in a report on Wednesday, February 12th. Piper Sandler cut their price target 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. Finally, Morgan Stanley lowered their price objective on shares of Coty from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.89.

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Coty Stock Performance

COTY traded down $0.15 during trading on Wednesday, hitting $5.55. The stock had a trading volume of 2,972,450 shares, compared to its average volume of 4,662,804. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45. The company has a 50 day moving average price of $6.50 and a 200-day moving average price of $7.55. Coty Inc. has a one year low of $5.35 and a one year high of $12.80. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -554.50, a P/E/G ratio of 0.81 and a beta of 1.97.

Coty (NYSE:COTY - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.11 earnings per share 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, research analysts predict that Coty Inc. will post 0.39 EPS for the current year.

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.