Point72 Asset Management L.P. Decreases Stake in Coty Inc. (NYSE:COTY)

Point72 Asset Management L.P. cut its stake in Coty Inc. (NYSE:COTY - Free Report) by 39.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,367,894 shares of the company's stock after selling 2,214,170 shares during the period. Point72 Asset Management L.P. owned about 0.39% of Coty worth $31,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Coty by 330.3% in the 3rd quarter. Blue Trust Inc. now owns 3,107 shares of the company's stock worth $31,000 after purchasing an additional 2,385 shares during the period. WealthShield Partners LLC bought a new position in shares of Coty in the 2nd quarter worth $100,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Coty during the 2nd quarter worth $107,000. Capstone Investment Advisors LLC bought a new stake in Coty during the third quarter valued at about $109,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Coty by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company's stock valued at $124,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors own 42.36% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COTY. Evercore ISI restated an "outperform" rating and issued a $15.00 price target on shares of Coty in a report on Wednesday, August 21st. TD Cowen downgraded shares of Coty from a "buy" rating to a "hold" rating and lowered their target price for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. DA Davidson decreased their price objective on Coty from $14.50 to $12.50 and set a "buy" rating for the company in a report on Monday, November 11th. Royal Bank of Canada restated an "outperform" rating and set a $14.00 target price on shares of Coty in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus decreased their price target on Coty from $11.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.56.

Coty Stock Performance

Shares of COTY stock traded down $0.02 on Friday, hitting $7.62. The company had a trading volume of 5,157,863 shares, compared to its average volume of 4,259,576. Coty Inc. has a twelve month low of $6.93 and a twelve month high of $13.30. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.63 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 0.74 and a beta of 1.89. The company has a 50-day moving average price of $7.85 and a 200-day moving average price of $9.07.

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 the consensus estimate of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the firm earned $0.09 earnings per share. Coty's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Coty Inc. will post 0.51 earnings per share for the current fiscal 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.