The Vanguard Group, Inc. recently announced the acquisition of new stake in Coty Inc (NYSE:COTY). The institutional investor has increased its shareholding in the Consumer Defensive company by 12.24% to 38.75 million shares with purchase of 4.22 million shares. This fresh investment now brings its stake to 4.52% valued currently at $363.05 million. In addition, Crédit Agricole Corporate & Inves raised its holdings by 0.12 million to 26.78 million shares. And ClearBridge Investments LLC has lifted its position by 1.78% or 0.26 million shares – to 14.61 million shares.
With over 4.14 million Coty Inc (COTY) shares trading Tuesday and a closing price of $10.86 on the day, the dollar volume was approximately $44.93 million. The shares have shown a negative half year performance of -0.91% and its price on 11/21/23 lost nearly -0.64%. Currently, there are 852.80M common shares owned by the public and among those 370.28M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for COTY have a consensus price objective of $12.81. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $10.00. The average price target is 15.22% above its recent price level and a downside to the estimated low will see the stock lose -8.6% over that period. But an upside of 36.12% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 14,796,133 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 6,133,601 shares.
The top 3 mutual fund holders in Coty Inc are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Hardman Johnston Global Equity. Vanguard Total Stock Market ETF owns 12.51 million shares of the company’s stock, all valued at over $117.19 million. The company bought an additional 23704.0 shares recently to bring their total holdings to about 1.46% of the shares outstanding. Hardman Johnston Global Equity bought 10.63 million shares to bring its total holdings to over 10.63 million shares at a value of $99.56 million. Hardman Johnston Global Equity now owns shares totaling to 1.24% of the shares outstanding.
Shares of Coty Inc (NYSE: COTY) opened at $10.84, down -$0.09 from a prior closing price of $10.93. However, the script later moved the day high at 10.98, down -0.64%. The company’s stock has a 5-day price change of 0.46% and -3.47% over the past three months. COTY shares are trading 26.87% year to date (YTD), with the 12-month market performance up to 39.77% higher. It has a 12-month low price of $7.35 and touched a high of $13.46 over the same period. COTY has an average intraday trading volume of 5.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.23%, 4.28%, and -4.26% respectively.
Institutional ownership of Coty Inc (NYSE: COTY) shares accounts for 42.05% of the company’s 852.80M shares outstanding. Mutual fund holders own 22.02%, while other institutional holders and individual stakeholders account for 67.29% and 21.74% respectively.
It has a market capitalization of $9.68B and a beta (3y monthly) value of 1.91. The stock’s trailing 12-month PE ratio is 25.94, while the earnings-per-share (ttm) stands at $0.42. The company has a PEG of 1.42 and a Quick Ratio of 0.49 with the debt-to-equity ratio at 1.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.42% over the week and 3.39% over the month.
Analysts forecast that Coty Inc (COTY) will achieve an EPS of $0.18 for the current quarter, $0.06 for the next quarter and $0.56 for 2025. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.25. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -24.27%, and 37.34% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Coty Inc (COTY) as a “Moderate Buy” at a consensus score of 2.05. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 10 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the COTY, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on October 17, 2023, with the firm’s price target at $11.
