Coty Inc (NYSE:COTY) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 69,928,836 shares, an increase of 5.3% from the May 15th total of 66,434,164 shares. Currently, 15.5% of the company’s stock are short sold. Based on an average daily volume of 5,968,425 shares, the short-interest ratio is presently 11.7 days.
In other Coty news, insider Daniel E. Ramos acquired 20,000 shares of Coty stock in a transaction dated Friday, May 11th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $286,400.00. Following the purchase, the insider now directly owns 89,815 shares in the company, valued at approximately $1,286,150.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert S. Singer acquired 15,000 shares of Coty stock in a transaction dated Friday, May 11th. The shares were acquired at an average price of $14.12 per share, with a total value of $211,800.00. Following the completion of the purchase, the director now owns 155,000 shares in the company, valued at $2,188,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 81,700 shares of company stock valued at $1,167,878. Company insiders own 1.00% of the company’s stock.
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Institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd bought a new position in Coty in the 1st quarter valued at about $105,000. Crawford Investment Counsel Inc. bought a new position in Coty in the 1st quarter valued at about $184,000. IBM Retirement Fund bought a new position in Coty in the 1st quarter valued at about $188,000. TLP Group LLC bought a new position in Coty in the 1st quarter valued at about $224,000. Finally, Point72 Asset Management L.P. bought a new position in Coty in the 1st quarter valued at about $254,000. 65.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:COTY opened at $14.17 on Tuesday. Coty has a 52-week low of $12.92 and a 52-week high of $21.68. The stock has a market capitalization of $10.87 billion, a P/E ratio of 22.49, a PEG ratio of 1.74 and a beta of 0.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.67.
Coty (NYSE:COTY) last issued its earnings results on Wednesday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Coty had a negative net margin of 3.13% and a positive return on equity of 4.31%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $0.15 EPS. Coty’s revenue was up 9.4% on a year-over-year basis. sell-side analysts expect that Coty will post 0.69 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 31st were paid a $0.125 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $0.50 annualized dividend and a yield of 3.53%. Coty’s dividend payout ratio (DPR) is currently 79.37%.
A number of research firms have recently commented on COTY. DA Davidson reduced their price objective on shares of Coty from $19.50 to $15.50 and set a “neutral” rating for the company in a research note on Friday, May 11th. Berenberg Bank upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th. BMO Capital Markets reduced their price objective on shares of Coty to $18.00 and set an “outperform” rating for the company in a research note on Thursday, May 10th. Zacks Investment Research downgraded shares of Coty from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Finally, Consumer Edge upgraded shares of Coty from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.12.
Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.