Hardman Johnston Global Advisors LLC Lowers Position in Coty Inc. (NYSE:COTY)

Hardman Johnston Global Advisors LLC cut its stake in shares of Coty Inc. (NYSE:COTY) by 41.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 927,870 shares of the company’s stock after selling 653,410 shares during the period. Hardman Johnston Global Advisors LLC owned about 0.11% of Coty worth $8,713,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after purchasing an additional 2,385 shares in the last quarter. Quent Capital LLC lifted its position in shares of Coty by 1,448.8% during the 2nd quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after buying an additional 4,810 shares in the last quarter. WealthShield Partners LLC purchased a new position in shares of Coty in the 2nd quarter worth approximately $100,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Coty in the second quarter valued at approximately $107,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Coty by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock valued at $124,000 after acquiring an additional 1,104 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Trading Up 0.9 %

Coty stock opened at $7.54 on Wednesday. The stock has a market cap of $6.54 billion, a P/E ratio of 94.25, a PEG ratio of 1.09 and a beta of 1.91. Coty Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $13.30. The firm’s fifty day moving average price is $8.70 and its 200-day moving average price is $9.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75.

Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a net margin of 1.46% and a return on equity of 8.05%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business earned $0.01 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that Coty Inc. will post 0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COTY. Piper Sandler reduced their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 target price on shares of Coty in a research note on Tuesday, October 15th. Jefferies Financial Group dropped their price target on Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Stifel Nicolaus lowered their price objective on Coty from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, October 15th. Finally, Bank of America dropped their price objective on shares of Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Coty currently has an average rating of “Moderate Buy” and an average price target of $12.15.

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.