JPMorgan Chase & Co. Boosts Coty (COTY) Price Target to $10.00

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Coty (NYSE:COTY) had its price target raised by JPMorgan Chase & Co. to $10.00 in a report issued on Monday, The Fly reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Coty from a sell rating to a hold rating in a research note on Wednesday, December 19th. BMO Capital Markets raised Coty from a market perform rating to an outperform rating and set a $12.00 price objective on the stock in a research note on Thursday, November 15th. Citigroup set a $11.00 price objective on Coty and gave the company a buy rating in a report on Friday, November 9th. Royal Bank of Canada dropped their price objective on Coty from $23.00 to $18.00 and set an outperform rating on the stock in a report on Thursday, November 8th. Finally, Morgan Stanley restated an equal weight rating and issued a $10.00 target price (down previously from $14.50) on shares of Coty in a research note on Thursday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $12.68.

NYSE:COTY opened at $11.17 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.96 and a quick ratio of 0.66. Coty has a 52 week low of $5.91 and a 52 week high of $21.68. The company has a market cap of $7.01 billion, a P/E ratio of 16.19, a PEG ratio of 2.13 and a beta of 0.81.

Coty (NYSE:COTY) last issued its quarterly earnings data on Friday, February 8th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Coty had a negative net margin of 13.58% and a positive return on equity of 5.38%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Coty’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Coty will post 0.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Wednesday, February 27th. Coty’s payout ratio is 72.46%.

In other news, major shareholder Cosmetics B.V. Jab purchased 1,470,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of $9.23 per share, with a total value of $13,568,100.00. Following the completion of the acquisition, the insider now directly owns 299,578,041 shares of the company’s stock, valued at approximately $2,765,105,318.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COTY. Pearl River Capital LLC bought a new stake in shares of Coty in the 4th quarter worth about $56,000. Advisor Partners LLC bought a new position in shares of Coty during the 4th quarter worth approximately $70,000. Delta Asset Management LLC TN raised its position in Coty by 12.5% in the 4th quarter. Delta Asset Management LLC TN now owns 10,825 shares of the company’s stock valued at $71,000 after buying an additional 1,200 shares during the last quarter. Pitcairn Co. bought a new position in Coty in the 4th quarter worth about $78,000. Finally, Ffcm LLC raised its holdings in shares of Coty by 249.0% during the 4th quarter. Ffcm LLC now owns 13,627 shares of the company’s stock valued at $89,000 after buying an additional 9,722 shares in the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

See Also: Understanding Price to Earnings Ratio (PE)

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Analyst Recommendations for Coty (NYSE:COTY)

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