4,090,941 Shares in Coty Inc. (NYSE:COTY) Acquired by Man Group plc

Man Group plc purchased a new position in Coty Inc. (NYSE:COTY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,090,941 shares of the company’s stock, valued at approximately $28,473,000. Man Group plc owned about 0.47% of Coty as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Coty in the 4th quarter valued at $44,401,000. Amundi increased its holdings in Coty by 1,990,624.9% in 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 last quarter. Caisse Des Depots ET Consignations purchased a new position in Coty in the fourth quarter valued at $19,663,000. Ameriprise Financial Inc. raised its stake in Coty by 12.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after buying an additional 2,175,120 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Coty during the 4th quarter worth about $12,981,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COTY shares. Raymond James cut Coty from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 17th. Morgan Stanley lowered their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Piper Sandler dropped their price target on shares of Coty from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Bank of America cut shares of Coty from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $9.00 to $4.50 in a report on Tuesday, April 15th. Finally, Barclays reduced their price objective on shares of Coty from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.80.

Coty Stock Down 0.6%

Shares of NYSE:COTY opened at $5.03 on Friday. Coty Inc. has a 1-year low of $4.46 and a 1-year high of $11.01. 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 stock has a market cap of $4.39 billion, a P/E ratio of -503.00, a P/E/G ratio of 0.81 and a beta of 1.90. The firm has a fifty day moving average price of $5.16 and a 200 day moving average price of $6.31.

Coty (NYSE:COTY) last announced its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). Coty had a return on equity of 6.34% and a net margin of 0.22%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Coty’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. Sell-side analysts predict that Coty Inc. will post 0.39 EPS for the current 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.