Coty Inc. (NYSE:COTY) Short Interest Update

Coty Inc. (NYSE:COTY) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 14,620,000 shares, a decrease of 5.5% from the September 30th total of 15,470,000 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,570,000 shares, the days-to-cover ratio is currently 3.2 days.

Coty Trading Up 2.0 %

Coty stock traded up $0.15 during trading hours on Friday, reaching $7.59. The company had a trading volume of 1,385,153 shares, compared to its average volume of 4,073,448. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.75 and a quick ratio of 0.46. Coty has a 12-month low of $7.34 and a 12-month high of $13.30. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 93.13, a P/E/G ratio of 1.12 and a beta of 1.89. The company has a 50-day moving average price of $8.83 and a 200 day moving average price of $9.75.

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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Coty will post 0.55 earnings per share for the current year.

Institutional Trading of Coty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&G Plc lifted its stake in shares of Coty by 41.4% in the 2nd quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after purchasing an additional 149,351 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Coty by 733.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after acquiring an additional 1,671,897 shares in the last quarter. Compass Wealth Management LLC grew its stake in Coty by 12.6% during the 3rd quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock worth $5,547,000 after buying an additional 65,900 shares during the last quarter. Retirement Systems of Alabama grew its stake in Coty by 54.7% during the 1st quarter. Retirement Systems of Alabama now owns 1,064,223 shares of the company’s stock worth $12,728,000 after buying an additional 376,479 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Coty by 40.2% during the 2nd quarter. Renaissance Technologies LLC now owns 522,630 shares of the company’s stock worth $5,237,000 after buying an additional 149,900 shares during the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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. Raymond James reduced their price objective on shares of Coty from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Bank of America lowered 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. DA Davidson lowered their price objective on shares of Coty from $17.00 to $14.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Evercore ISI restated an “outperform” rating and set a $15.00 target price on shares of Coty in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.15.

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.