Neo Ivy Capital Management Invests $1.68 Million in Coty Inc. (NYSE:COTY)

Neo Ivy Capital Management acquired a new position in shares of Coty Inc. (NYSE:COTY - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 179,392 shares of the company's stock, valued at approximately $1,684,000.

Other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in Coty by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company's stock worth $124,000 after acquiring an additional 1,104 shares in the last quarter. American Century Companies Inc. raised its stake in Coty by 10.6% during the second quarter. American Century Companies Inc. now owns 14,746 shares of the company's stock worth $148,000 after acquiring an additional 1,414 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Coty by 3.8% during the third quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company's stock worth $397,000 after acquiring an additional 1,545 shares in the last quarter. Blue Trust Inc. raised its stake in Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company's stock worth $31,000 after acquiring an additional 2,385 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Coty by 2.3% during the second quarter. Arizona State Retirement System now owns 112,773 shares of the company's stock worth $1,130,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 42.36% of the company's stock.

Coty Stock Performance

Coty stock traded down $0.09 during midday trading on Wednesday, reaching $7.66. The stock had a trading volume of 1,521,655 shares, compared to its average volume of 4,263,339. Coty Inc. has a 12 month low of $6.93 and a 12 month high of $13.30. The firm's 50-day moving average price is $7.79 and its 200 day moving average price is $9.01. The firm has a market capitalization of $6.66 billion, a PE ratio of 45.59, a P/E/G ratio of 0.75 and a beta of 1.89. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.16%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, research analysts predict that Coty Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COTY has been the subject of several recent research reports. Barclays downgraded Coty from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $8.00 to $7.00 in a research note on Thursday, November 7th. Canaccord Genuity Group reissued a "buy" rating and set a $14.00 target price on shares of Coty in a research report on Tuesday, October 15th. Jefferies Financial Group decreased their target price on shares of Coty from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. DA Davidson cut their price target on Coty from $14.50 to $12.50 and set a "buy" rating on the stock in a report on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on Coty from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.56.

Coty 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.