Published on 19 Mar 2024 on Insider Monkey via Yahoo Finance
Do You Think Coty’s (COTY) Fundamentals Have Improved?
ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “Mid Cap Strategy” investor letter, which can be downloaded here. As a late-year rally was fueled by confidence about an economic soft landing, a dovish flip by the Fed, and broader market performance, mid-cap stocks saw strong gains. Due to an inconstant industrial and consumer discretionary asset performance, the Strategy underperformed its benchmark; however, the consumer staples stock pick was successful. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Mid Cap Strategy featured stocks like Coty Inc. (NYSE:COTY) in the Q4 2023 investor letter. Headquartered in New York, New York, Coty Inc. (NYSE:COTY) engages in the business of beauty products. On March 18, 2024, Coty Inc. (NYSE:COTY) stock closed at $12.09 per share. One-month return of Coty Inc. (NYSE:COTY) was -0.66%, and its shares gained 7.09% of their value over the last 52 weeks. Coty Inc. (NYSE:COTY) has a market capitalization of $10.823 billion.
ClearBridge Mid Cap Strategy stated the following regarding Coty Inc. (NYSE:COTY) in its fourth quarter 2023 investor letter: