Envestnet Asset Management Inc. Acquires 71,534 Shares of Coty Inc. (NYSE:COTY)

Envestnet Asset Management Inc. raised its holdings in Coty Inc. (NYSE:COTY) by 27.5% in the second quarter, HoldingsChannel.com reports. The firm owned 331,404 shares of the company’s stock after purchasing an additional 71,534 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Coty were worth $3,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC grew its holdings in shares of Coty by 1,448.8% during 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 in the last quarter. WealthShield Partners LLC bought a new position in Coty in the 2nd quarter valued at about $100,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Coty in the 2nd quarter valued at approximately $107,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Coty by 9.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the period. Finally, EntryPoint Capital LLC boosted its position 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 acquiring an additional 8,419 shares in the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.

Analyst Ratings Changes

COTY has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. DA Davidson raised their price objective on Coty from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler lowered their target price on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Citigroup reduced their price target on shares of Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus lowered their price objective on shares of Coty from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.85.

Coty Stock Performance

Shares of COTY stock opened at $8.93 on Friday. The stock has a market capitalization of $7.75 billion, a PE ratio of 38.96, a PEG ratio of 0.69 and a beta of 1.89. The business’s 50 day simple moving average is $9.38 and its 200 day simple moving average is $10.22. 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 Inc. has a one year low of $8.66 and a one year high of $13.30.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that Coty Inc. will post 0.56 earnings per share for the current year.

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.