Bank of America Corp DE Cuts Stake in Coty Inc. (NYSE:COTY)

Bank of America Corp DE lessened its stake in shares of Coty Inc. (NYSE:COTY) by 39.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,189,843 shares of the company’s stock after selling 774,742 shares during the quarter. Bank of America Corp DE’s holdings in Coty were worth $8,281,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in COTY. Jump Financial LLC purchased a new stake in shares of Coty in the 4th quarter worth about $873,000. Barclays PLC raised its holdings in Coty by 147.1% in the third quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock worth $10,947,000 after buying an additional 693,961 shares during the last quarter. Amundi increased its holdings in shares of Coty by 1,990,624.9% in the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after purchasing an additional 4,478,906 shares in the last quarter. TCW Group Inc. raised its position in Coty by 44.1% in the 4th quarter. TCW Group Inc. now owns 304,797 shares of the company’s stock worth $2,121,000 after buying an additional 93,229 shares during the last quarter. Finally, Entropy Technologies LP boosted its holdings in Coty by 137.4% in the fourth quarter. Entropy Technologies LP now owns 104,349 shares of the company’s stock worth $726,000 after purchasing an additional 60,400 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

Shares of Coty stock opened at $4.79 on Monday. The company has a market capitalization of $4.17 billion, a PE ratio of -478.50, a P/E/G ratio of 0.81 and a beta of 1.90. Coty Inc. has a one year low of $4.46 and a one year high of $10.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71. The company has a 50-day simple moving average of $5.09 and a two-hundred day simple moving average of $6.19.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COTY shares. Berenberg Bank assumed coverage on shares of Coty in a research report on Tuesday, March 25th. They set a “buy” rating and a $7.50 target price for the company. BNP Paribas cut shares of Coty from an “outperform” rating to a “neutral” rating and set a $5.65 target price for the company. in a research note on Friday, April 11th. Citigroup lowered their target price on Coty from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on Coty from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America lowered shares of Coty from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $9.00 to $4.50 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coty has an average rating of “Hold” and a consensus target price of $7.80.

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.