Rhumbline Advisers Buys 153,817 Shares of Coty Inc (NYSE:COTY)

29 May 2020, 13:00 by Kim Johansen

Rhumbline Advisers boosted its stake in shares of Coty Inc (NYSE:COTY) by 27.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706,118 shares of the company’s stock after purchasing an additional 153,817 shares during the quarter. Rhumbline Advisers owned about 0.09% of Coty worth $3,644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. World Asset Management Inc boosted its position in Coty by 4.7% during the fourth quarter. World Asset Management Inc now owns 22,800 shares of the company’s stock worth $256,000 after purchasing an additional 1,033 shares during the period. Retirement Systems of Alabama boosted its position in shares of Coty by 0.9% in the fourth quarter. Retirement Systems of Alabama now owns 129,905 shares of the company’s stock valued at $1,461,000 after acquiring an additional 1,103 shares during the period. Savant Capital LLC boosted its position in shares of Coty by 7.8% in the fourth quarter. Savant Capital LLC now owns 19,074 shares of the company’s stock valued at $215,000 after acquiring an additional 1,374 shares during the period. Regent Investment Management LLC boosted its position in shares of Coty by 13.2% in the fourth quarter. Regent Investment Management LLC now owns 14,627 shares of the company’s stock valued at $164,000 after acquiring an additional 1,705 shares during the period. Finally, Hartford Investment Management Co. boosted its position in shares of Coty by 5.8% in the first quarter. Hartford Investment Management Co. now owns 32,490 shares of the company’s stock valued at $168,000 after acquiring an additional 1,790 shares during the period. 34.33% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE COTY opened at $4.19 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 2.42. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -1.04, a PEG ratio of 2.31 and a beta of 1.06. Coty Inc has a 12 month low of $3.02 and a 12 month high of $13.81. The stock has a 50-day moving average price of $5.00 and a two-hundred day moving average price of $8.82.

Coty (NYSE:COTY) last issued its earnings results on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Coty had a positive return on equity of 7.26% and a negative net margin of 38.33%. The firm’s revenue was down 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, sell-side analysts predict that Coty Inc will post 0.23 earnings per share for the current year.

COTY has been the subject of a number of recent research reports. Wells Fargo & Co reissued a “hold” rating and issued a $5.00 target price on shares of Coty in a research report on Friday, March 20th. Cfra boosted their target price on shares of Coty from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, February 5th. TheStreet cut shares of Coty from a “c-” rating to a “d” rating in a research report on Wednesday, March 18th. Stifel Nicolaus cut their price objective on shares of Coty from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, May 12th. Finally, Barclays reaffirmed a “hold” rating and set a $5.00 price objective on shares of Coty in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.25.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.