Here’s Why You Should Consider Investing in COTY

ClearBridge Investments, an investment management firm, published its “Value Equity Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Value Equity Strategy had a negative absolute return for the third quarter and underperformed the benchmark Russell 1000 Value Index. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Investments Value Equity Strategy, in its Q3 2021 investor letter, mentioned Coty Inc. (NYSE: COTY) and discussed its stance on the firm. Coty Inc. is a New York, New York-based multinational beauty company with an $8.6 billion market capitalization. COTY delivered a 49.86% return since the beginning of the year, while its 12-month returns are up by 46.52%. The stock closed at $10.52 per share on December 24, 2021.

Here is what ClearBridge Investments Value Equity Strategy has to say about Coty Inc.  in its Q3 2021 investor letter:

“Coty is a global beauty company primarily made up of its marketleading prestige fragrance business and a mass cosmetic business acquired from P&G that includes brands such as Covergirl. It is a turnaround story catalyzed by the new CEO, Sue Nabi, an experienced beauty expert who previously worked at L’Oreal and successfully executed turnarounds and the relaunch of its Lancome and L’Oreal Paris brands. Early signs are supportive of improving performance in Coty’s cosmetics business. The company should also benefit from an accelerating growth trend in its prestige fragrance business driven by purchases shifting online and the category’s emerging popularity.”

titov dmitriy/Shutterstock.com

Based on our calculations, Coty Inc. (NYSE: COTY) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. COTY was in 40 hedge fund portfolios at the end of the third quarter of 2021, compared to 30 funds in the previous quarter. Coty Inc. (NYSE: COTY) delivered a 27.52% return in the past 3 months.

You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.