Coty (COTY)

[winston]

not vested

COTY prepares to break

Coty Inc., together with its subsidiaries, manufactures, markets, and distributes beauty products worldwide.

The company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care, and Brazil Acquisition.

It offers fragrances under the Calvin Klein, Marc Jacobs, Davidoff, Chloé, Balenciaga, Beyoncé, Bottega Veneta, Guess?, Katy Perry, Miu Miu, and Roberto Cavalli brand names.

The company also provides lip, eye, nail, and facial color products under the Bourjois, Rimmel, Sally Hansen, and OPI brands.

Source: Wealth Blueprint Letter

http://wealthblueprintletter.com/coty-p ... c0d2e9d2ab

[winston]

not vested

Coty, Inc. (COTY)

Coty is a renowned cosmetics company with an extensive portfolio.

Coty owns more than 50 cosmetic, skincare, and fragrance brands, including Adidas, Vera Wang, Burberry, Calvin Klein, Hugo Boss, Max Factor – it’s a long list, but you’ll recognize most of the names from magazine ads or from the local department store’s cosmetic counter.

The company, which today is based in the Netherlands, was founded in Paris back in 1904. Since then, it has built a stable business on its array of well-known brands and boasts a sound position in the cosmetic industry.

For its fiscal year 2023, which ended on June 30, the company had $5.55 billion in total revenue. In the last quarter of fiscal ’23, Coty reported a top line of $1.35 billion, up 16% year-over-year, and $40 million better than the forecast.

The non-GAAP EPS came in at 1 cent, a penny below the estimates.

Strong revenue growth in both the Prestige and Consumer beauty segments supported the top-line gains.

In a notable development, Coty put 33 million common shares on the market last month, and that led to the major insider buy.

Maria Aramburuzabala, a company Director, purchased 500,000 shares at a total cost of $5.4 million. This brings her stake in the company up to $14.9 million.

For Raymond James analyst, Olivia Tong, the key point is the upcoming holiday season, when Coty’s business typically picks up.

She writes, “With Fragrances accounting for 60% of COTY’s sales, mostly in prestige brands, and the key holiday period approaching, we see opportunity for continued upsides for COTY.

Management raised its sales guide four times during FY23 and we see potential for another positive announcement when the company reports F1Q24 results, or possibly earlier.”

“Better than expected Fragrance demand has been a key driver of COTY’s upsides in recent quarters and with industry fill rates now back in the mid-to-high 90s again after recovering from glass and other component shortages last year, fragrance houses can also return to gift sets to also support the category, particularly important heading into the holiday season,” Tong added.

To this end, Tong rates COTY shares an Outperform, while her price target, of $15, points toward a 57% upside on the one-year horizon. (To watch Tong’s track record click here)

What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 7 Buys and Holds, each, add up to a Moderate Buy consensus rating. The stock is selling for $9.55, and its $13.15 average price target suggests it will gain ~38% in the year ahead.

Source: Tip Ranks

https://finance.yahoo.com/news/insiders ... 15848.html

[behappyalways]

Coty Tanks As Fragile Turnaround Delayed On Perfume Sales Slump
https://www.zerohedge.com/markets/coty- ... ales-slump