6,379,402 Shares in Coty Inc. (NYSE:COTY) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of Coty Inc. (NYSE:COTY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,379,402 shares of the company's stock, valued at approximately $44,401,000. Norges Bank owned about 0.73% of Coty as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Amundi grew its position in Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company's stock valued at $30,503,000 after buying an additional 4,478,906 shares during the period. Caisse Des Depots ET Consignations bought a new stake in shares of Coty during the 4th quarter valued at $19,663,000. Thrivent Financial for Lutherans increased its stake in shares of Coty by 25.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company's stock worth $56,354,000 after purchasing an additional 1,646,839 shares in the last quarter. Barclays PLC raised its holdings in 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 purchasing an additional 693,961 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Coty by 17.5% during the fourth quarter. Victory Capital Management Inc. now owns 3,134,276 shares of the company's stock valued at $21,815,000 after purchasing an additional 466,772 shares in the last quarter. Institutional investors own 42.36% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on COTY shares. Morgan Stanley reduced their price target on Coty from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Berenberg Bank assumed coverage on shares of Coty in a report on Tuesday, March 25th. They issued a "buy" rating and a $7.50 target price for the company. DA Davidson restated a "buy" rating and set a $12.50 target price on shares of Coty in a research note on Thursday, February 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 price target on shares of Coty in a research report on Wednesday, February 12th. Finally, Citigroup raised shares of Coty from a "neutral" rating to a "buy" rating and upped their target price for the stock from $7.00 to $8.00 in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Coty has an average rating of "Moderate Buy" and an average price target of $9.55.

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Coty Price Performance

Shares of COTY stock traded up $0.68 on Wednesday, reaching $5.37. The company's stock had a trading volume of 12,765,811 shares, compared to its average volume of 5,147,093. The stock's fifty day simple moving average is $5.79 and its 200-day simple moving average is $6.99. Coty Inc. has a 1 year low of $4.61 and a 1 year high of $11.81. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of -536.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.75. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85.

Coty (NYSE:COTY - Get Free Report) last issued its quarterly earnings data 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%. Analysts forecast that Coty Inc. will post 0.39 earnings per share for the current fiscal year.

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.