The Manufacturers Life Insurance Company Sells 17,049 Shares of Coty Inc. (NYSE:COTY)

The Manufacturers Life Insurance Company trimmed its position in shares of Coty Inc. (NYSE:COTY) by 4.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 341,884 shares of the company’s stock after selling 17,049 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coty were worth $3,426,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COTY. Envestnet Portfolio Solutions Inc. lifted its stake in Coty by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after purchasing an additional 1,104 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Coty by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after acquiring an additional 1,414 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Coty by 3.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after acquiring an additional 2,012 shares during the period. Swiss National Bank grew its position in Coty by 0.3% during the 1st quarter. Swiss National Bank now owns 792,401 shares of the company’s stock worth $9,477,000 after acquiring an additional 2,300 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Coty by 2.7% in the first quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock worth $1,104,000 after buying an additional 2,400 shares during the period. Institutional investors own 42.36% of the company’s stock.

Coty Trading Down 2.6 %

Coty stock opened at $9.12 on Wednesday. Coty Inc. has a 12 month low of $8.66 and a 12 month high of $13.30. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 0.69 and a beta of 1.89. The business’s fifty day simple moving average is $9.32 and its two-hundred day simple moving average is $10.13. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96.

Coty (NYSE:COTY) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Coty had a return on equity of 8.05% and a net margin of 1.46%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts predict that Coty Inc. will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COTY shares. 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 report on Thursday, July 11th. Stifel Nicolaus reduced their price objective on shares of Coty from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Barclays decreased their price objective on shares of Coty from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Coty in a research note on Friday, September 13th. Finally, Wells Fargo & Company reduced their price target on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Coty currently has a consensus rating of “Moderate Buy” and an average price target of $12.80.

About Coty

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.