Coty (NYSE:COTY) Cut to Hold at TD Cowen

TD Cowen downgraded shares of Coty (NYSE:COTY) from a buy rating to a hold rating in a research note released on Wednesday, Marketbeat reports. The brokerage currently has $8.50 target price on the stock, down from their prior target price of $11.00.

COTY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Coty from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on Coty from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 price target on shares of Coty in a research note on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus reduced their target price 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 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. Based on data from MarketBeat, Coty currently has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Coty Trading Down 5.3 %

Shares of COTY opened at $7.19 on Wednesday. Coty has a 12 month low of $7.02 and a 12 month high of $13.30. The stock’s 50-day moving average is $8.42 and its two-hundred day moving average is $9.49. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The stock has a market cap of $6.24 billion, a PE ratio of 42.26, a P/E/G ratio of 0.72 and a beta of 1.91.

Coty (NYSE:COTY) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate 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 business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. Equities analysts forecast that Coty will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banco Santander S.A. raised its stake in Coty by 0.3% during the 3rd quarter. Banco Santander S.A. now owns 23,112,758 shares of the company’s stock valued at $217,029,000 after acquiring an additional 79,180 shares in the last quarter. State Street Corp increased its holdings in shares of Coty by 2.3% during the third quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after purchasing an additional 251,964 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Coty by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,387,661 shares of the company’s stock valued at $94,068,000 after purchasing an additional 890,626 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Coty by 11.3% in the third quarter. Thrivent Financial for Lutherans now owns 6,450,073 shares of the company’s stock worth $60,566,000 after purchasing an additional 656,952 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in 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 valued at $52,984,000 after buying an additional 1,687,045 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

About Coty

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.