GAM Holding AG Makes New $1.44 Million Investment in Coty $COTY

GAM Holding AG purchased a new stake in shares of Coty (NYSE:COTY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 310,000 shares of the company’s stock, valued at approximately $1,442,000.

Several other hedge funds have also modified their holdings of COTY. GAMMA Investing LLC boosted its position in Coty by 140.2% in the 1st quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $30,000 after buying an additional 3,214 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Coty by 406.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,507 shares of the company’s stock valued at $336,000 after buying an additional 49,373 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Coty in the 1st quarter valued at $240,000. Teacher Retirement System of Texas bought a new position in Coty in the first quarter valued at about $313,000. Finally, Principal Financial Group Inc. boosted its holdings in Coty by 0.6% in the first quarter. Principal Financial Group Inc. now owns 844,292 shares of the company’s stock valued at $4,618,000 after acquiring an additional 5,272 shares during the last quarter. 42.36% of the stock is owned by institutional investors.

Coty Stock Up 0.9%

Coty stock opened at $3.97 on Friday. The company’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $4.63. Coty has a fifty-two week low of $3.67 and a fifty-two week high of $8.04. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -9.01, a PEG ratio of 0.27 and a beta of 1.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.46.

Coty (NYSE:COTY) last announced its quarterly earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Coty had a positive return on equity of 5.18% and a negative net margin of 6.24%.The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. As a group, sell-side analysts anticipate that Coty will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Coty news, insider Kristin Blazewicz bought 29,400 shares of Coty stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average cost of $4.30 per share, for a total transaction of $126,420.00. Following the completion of the acquisition, the insider owned 829,142 shares in the company, valued at approximately $3,565,310.60. The trade was a 3.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Laurent Mercier bought 12,500 shares of Coty stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $3.96 per share, for a total transaction of $49,500.00. Following the completion of the acquisition, the chief financial officer owned 402,216 shares of the company’s stock, valued at approximately $1,592,775.36. This represents a 3.21% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 334,900 shares of company stock valued at $1,321,840. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COTY shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Coty in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Coty from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Royal Bank Of Canada reduced their price objective on shares of Coty from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Friday, August 22nd. Barclays reduced their price objective on shares of Coty from $4.50 to $3.50 and set an “underweight” rating on the stock in a research note on Friday, August 22nd. Finally, Bank of America reduced their price target on Coty from $4.00 to $3.50 and set an “underperform” rating on the stock in a research report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $6.06.

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.