Atria Investments Inc Purchases 3,022 Shares of Coty Inc. (NYSE:COTY) – Defense World
Investments Inc recently increased its stake in Coty Inc. by acquiring an additional 3,022 shares of the company’s stock in the third quarter. This move represents a 19.3% increase in its ownership of Coty, bringing its total shares to 18,650, valued at $175,000 as per the firm’s latest SEC filing.
Other hedge funds have also shown interest in Coty, with Blue Trust Inc. increasing its holdings by 330.3% and Quent Capital LLC boosting its shares by 1,448.8%. WealthShield Partners LLC and Fifth Third Wealth Advisors LLC are among the new stakeholders who recently invested in Coty. Institutional investors currently own 42.36% of the company’s stock.
For investors tracking Coty’s performance, the stock was trading up 1.8% at $7.32 on Monday, with a market capitalization of $6.37 billion. Coty has shown a steady rise in revenue according to its latest quarterly earnings data, reporting a revenue increase of 1.8% compared to the previous year.
Looking towards the future, Wall Street analysts forecast strong growth potential for Coty Inc., with an average rating of “Moderate Buy” and a target price of $11.56. The company operates in the global beauty products market, offering well-known brands like Calvin Klein, Gucci, and Marc Jacobs, under its Prestige and Consumer Beauty segments.
Having recently reported quarterly earnings slightly below estimates, Coty remains optimistic about its performance. The company’s revenue and return on equity figures indicate progress and stability. As investors continue to watch Coty’s journey, its position in the beauty industry remains one to watch.
