Coty Inc (COTY) Sees Significant Increase in Short Interest

Coty Inc (NYSE:COTY) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 63,237,461 shares, a growth of 11.1% from the November 15th total of 56,906,586 shares. Based on an average daily trading volume, of 4,399,842 shares, the short-interest ratio is currently 14.4 days. Approximately 14.4% of the shares of the stock are short sold.

Several brokerages have issued reports on COTY. KeyCorp reaffirmed a “hold” rating on shares of Coty in a research note on Friday, August 25th. Bank of America dropped their price target on Coty from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Jefferies Group reaffirmed a “hold” rating and set a $18.00 price target (up previously from $17.00) on shares of Coty in a research note on Wednesday, August 23rd. BMO Capital Markets reaffirmed a “buy” rating on shares of Coty in a research note on Sunday, November 12th. Finally, Stifel Nicolaus set a $25.00 price target on Coty and gave the stock a “buy” rating in a research note on Monday, August 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.41.

In other news, insider Edgar O. Huber purchased 4,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $17.74 per share, with a total value of $70,960.00. Following the completion of the purchase, the insider now directly owns 163,570 shares in the company, valued at approximately $2,901,731.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $16.85 per share, with a total value of $90,990,000.00. Following the purchase, the insider now owns 279,608,041 shares of the company’s stock, valued at $4,711,395,490.85. The disclosure for this purchase can be found here. Insiders have purchased 10,004,000 shares of company stock valued at $168,552,960 in the last three months. 1.00% of the stock is owned by corporate insiders.

Shares of Coty (NYSE:COTY) opened at $19.78 on Friday. Coty has a 52 week low of $14.24 and a 52 week high of $20.88. The company has a quick ratio of 0.78, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $14,645.06, a PE ratio of 35.53, a PEG ratio of 1.97 and a beta of 0.36.

Coty (NYSE:COTY) last released its earnings results on Thursday, November 9th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Coty had a positive return on equity of 4.26% and a negative net margin of 5.02%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.23 EPS. Coty’s revenue for the quarter was up 107.3% on a year-over-year basis. analysts expect that Coty will post 0.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 2.53%. Coty’s dividend payout ratio is presently -83.33%.

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Coty Company Profile

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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