Coty Inc. (NYSE:COTY) Short Interest Up 8.9% in July

Coty Inc. (NYSE:COTY) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 15,190,000 shares, a growth of 8.9% from the July 15th total of 13,950,000 shares. Based on an average daily volume of 3,720,000 shares, the short-interest ratio is currently 4.1 days. Approximately 4.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DA Davidson dropped their price objective on shares of Coty from $17.50 to $16.50 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Citigroup dropped their target price on shares of Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their target price on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America dropped their target price on shares of Coty from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on shares of Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coty presently has an average rating of “Moderate Buy” and an average target price of $12.94.

Coty Stock Down 0.8 %

NYSE COTY traded down $0.08 on Monday, reaching $9.55. The company had a trading volume of 5,764,523 shares, compared to its average volume of 3,922,371. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.50 and a current ratio of 0.80. Coty has a 1-year low of $8.79 and a 1-year high of $13.30. The company’s fifty day moving average is $9.76 and its 200-day moving average is $10.89.

Hedge Funds Weigh In On Coty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its stake in Coty by 1,448.8% in the 2nd quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after purchasing an additional 4,810 shares during the period. WealthShield Partners LLC acquired a new position in Coty in the 2nd quarter worth $100,000. Fifth Third Wealth Advisors LLC acquired a new position in Coty in the 2nd quarter worth $107,000. EntryPoint Capital LLC boosted its stake in shares of Coty by 260.4% during the 1st quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock worth $139,000 after buying an additional 8,419 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Coty during the 1st quarter worth about $146,000. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Company Profile

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.