Coty Sees Unusually High Options Volume (COTY)
Coty Inc (NYSE:COTY) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 5,118 call options on the company. This represents an increase of approximately 822% compared to the average daily volume of 555 call options.
A number of research analysts recently issued reports on COTY shares. BidaskClub cut shares of Coty from a “sell” rating to a “strong sell” rating in a report on Thursday, October 26th. Wells Fargo & Co set a $17.00 price objective on shares of Coty and gave the company a “hold” rating in a report on Monday, December 11th. BMO Capital Markets set a $24.00 price objective on shares of Coty and gave the company a “buy” rating in a report on Friday. Citigroup upgraded shares of Coty from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, December 12th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Coty in a report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.57.
In other news, insider Edgar O. Huber acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average price of $17.74 per share, for a total transaction of $70,960.00. Following the completion of the acquisition, the insider now owns 163,570 shares in the company, valued at $2,901,731.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab acquired 2,800,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average price of $16.94 per share, with a total value of $47,432,000.00. Following the acquisition, the insider now owns 285,008,041 shares of the company’s stock, valued at approximately $4,828,036,214.54. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 8,204,000 shares of company stock valued at $138,492,960. Corporate insiders own 1.00% of the company’s stock.
Coty (NYSE:COTY) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Coty had a negative net margin of 4.15% and a positive return on equity of 4.45%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. sell-side analysts expect that Coty will post 0.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, February 27th. Coty’s dividend payout ratio (DPR) is presently -100.00%.
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Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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