Coty Inc (COTY) Position Reduced by CIBC Asset Management Inc
CIBC Asset Management Inc cut its stake in Coty Inc (NYSE:COTY) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,906 shares of the company’s stock after selling 1,136 shares during the period. CIBC Asset Management Inc’s holdings in Coty were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in COTY. Pearl River Capital LLC acquired a new stake in Coty during the 4th quarter valued at approximately $56,000. Advisor Partners LLC acquired a new stake in Coty during the 4th quarter valued at approximately $70,000. Delta Asset Management LLC TN lifted its stake in Coty by 12.5% during the 4th quarter. Delta Asset Management LLC TN now owns 10,825 shares of the company’s stock valued at $71,000 after acquiring an additional 1,200 shares during the period. Ffcm LLC lifted its stake in 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 acquiring an additional 9,722 shares during the period. Finally, M&T Bank Corp lifted its stake in Coty by 14.8% during the 4th quarter. M&T Bank Corp now owns 18,044 shares of the company’s stock valued at $119,000 after acquiring an additional 2,324 shares during the period. Institutional investors and hedge funds own 65.19% of the company’s stock.
NYSE:COTY opened at $10.89 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.96 and a debt-to-equity ratio of 0.99. The company has a market cap of $8.18 billion, a PE ratio of 15.78, a PEG ratio of 2.54 and a beta of 0.92. Coty Inc has a 1-year low of $5.91 and a 1-year high of $19.01.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Wednesday, February 27th. Coty’s dividend payout ratio (DPR) is 72.46%.
Several analysts have commented on the stock. Morgan Stanley set a $9.00 price objective on shares of Coty and gave the company a “hold” rating in a research note on Thursday, December 20th. Zacks Investment Research upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Jefferies Financial Group restated a “hold” rating on shares of Coty in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Coty to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Coty has an average rating of “Hold” and an average price target of $12.68.
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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care, and mass fragrances.
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