Coty (COTY) Upgraded to Outperform at BMO Capital Markets
BMO Capital Markets upgraded shares of Coty (NYSE:COTY) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat reports. They currently have $12.00 target price on the stock.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Coty from a hold rating to a sell rating in a research note on Monday, November 12th. Citigroup set a $11.00 price target on Coty and gave the stock a buy rating in a research note on Friday, November 9th. Morgan Stanley reiterated an equal weight rating and set a $10.00 price objective (down previously from $14.50) on shares of Coty in a research report on Thursday, November 8th. Royal Bank of Canada reduced their price objective on Coty from $23.00 to $18.00 and set an outperform rating for the company in a research report on Thursday, November 8th. Finally, Wells Fargo & Co reduced their price objective on Coty from $11.00 to $9.00 and set a hold rating for the company in a research report on Wednesday, November 7th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Coty has a consensus rating of Hold and an average price target of $12.86.
COTY stock opened at $9.09 on Thursday. Coty has a 1-year low of $8.15 and a 1-year high of $21.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.66. The firm has a market capitalization of $6.83 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.47.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Thursday, November 29th. Coty’s dividend payout ratio (DPR) is presently 72.46%.
In related news, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $8.89 per share, with a total value of $48,006,000.00. Following the completion of the acquisition, the insider now owns 294,508,041 shares of the company’s stock, valued at approximately $2,618,176,484.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Singer purchased 5,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were bought at an average cost of $12.00 per share, with a total value of $60,000.00. Following the acquisition, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $2,100,000. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 13,208,447 shares of company stock valued at $128,719,304. 1.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Rothschild Investment Corp IL bought a new stake in Coty during the second quarter valued at about $159,000. Intact Investment Management Inc. bought a new stake in Coty during the second quarter valued at about $230,000. Cornerstone Wealth Management LLC bought a new stake in Coty during the second quarter valued at about $1,220,000. ING Groep NV bought a new stake in Coty during the third quarter valued at about $218,000. Finally, Caption Management LLC bought a new stake in Coty during the second quarter valued at about $254,000. 67.55% of the stock is owned by institutional investors and hedge funds.
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.
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