Renaissance Technologies LLC Acquires 523,830 Shares of Coty Inc. (NYSE:COTY)

Renaissance Technologies LLC boosted its holdings in Coty Inc. (NYSE:COTY) by 85.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,133,760 shares of the company’s stock after acquiring an additional 523,830 shares during the quarter. Renaissance Technologies LLC’s holdings in Coty were worth $7,891,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its position in Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock valued at $29,000 after buying an additional 3,186 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Coty by 145.0% during the fourth quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock valued at $42,000 after acquiring an additional 3,328 shares in the last quarter. Blue Trust Inc. raised its position in shares of Coty by 124.8% in the 4th quarter. Blue Trust Inc. now owns 6,984 shares of the company’s stock worth $49,000 after purchasing an additional 3,877 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Coty by 55.3% in the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after purchasing an additional 2,601 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Coty during the 4th quarter valued at about $54,000. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

Coty Price Performance

NYSE COTY opened at $4.73 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71. The business’s fifty day moving average is $5.47 and its 200 day moving average is $6.79. The company has a market capitalization of $4.12 billion, a PE ratio of -472.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.75. Coty Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $11.81.

Coty (NYSE:COTY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. Sell-side analysts predict that Coty Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COTY. Piper Sandler decreased their target price on shares of Coty from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Barclays cut their target price on Coty from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Raymond James cut Coty from an “outperform” rating to a “market perform” rating in a research note on Thursday. Berenberg Bank assumed coverage on Coty in a research report on Tuesday, March 25th. They set a “buy” rating and a $7.50 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $12.50 target price on shares of Coty in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.24.

Coty Profile

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.