Northern Trust Corp Acquires 378,605 Shares of Coty Inc (COTY)
Northern Trust Corp boosted its position in Coty Inc (NYSE:COTY) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,566,958 shares of the company’s stock after buying an additional 378,605 shares during the period. Northern Trust Corp owned approximately 0.74% of Coty worth $36,519,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Delta Asset Management LLC TN boosted its position in shares of Coty by 12.5% during the 4th quarter. Delta Asset Management LLC TN now owns 10,825 shares of the company’s stock worth $71,000 after purchasing an additional 1,200 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Coty by 9.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 19,235 shares of the company’s stock valued at $126,000 after purchasing an additional 1,700 shares during the last quarter. M&T Bank Corp raised its stake in Coty by 14.8% in the 4th quarter. M&T Bank Corp now owns 18,044 shares of the company’s stock valued at $119,000 after purchasing an additional 2,324 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Coty by 5.9% during the 4th quarter. Bank of Nova Scotia now owns 96,974 shares of the company’s stock valued at $635,000 after acquiring an additional 5,388 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Coty by 34.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 23,548 shares of the company’s stock valued at $296,000 after acquiring an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 65.84% of the company’s stock.
A number of research firms have weighed in on COTY. Morgan Stanley set a $9.00 price target on Coty and gave the stock a “hold” rating in a report on Thursday, December 20th. Jefferies Financial Group reiterated a “hold” rating on shares of Coty in a research note on Tuesday, March 5th. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on Coty to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.68.
Coty (NYSE:COTY) last issued its earnings results on Friday, February 8th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that Coty Inc will post 0.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a $0.125 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 4.46%. Coty’s payout ratio is 72.46%.
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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care, and mass fragrances.
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