Based in New York City, Coty, Inc. (COTY) — my latest recommendation — is one of the world’s leading beauty companies, notes Mark Skousen, dividend and growth specialist and editor of High-Income Alert.

Coty is the global leader in fragrances. It holds the number two position in salon hair. And it is number three in color cosmetics. The companies has an iconic portfolio of 77 leading brands, including Calvin Klein fragrances, Chloe, Clairol, Covergirl, Marc Jacobs, philosophy, Wella and others.

Annual sales this year for Coty should top $9.1 billion. And earnings should climb from $0.64 a share in 2019 to $0.78 a share in 2020. Coty’s dividend of more than 4% should rise, too.

Last month, Coty’s Chief Global Supply Officer, Luc Volatier, who oversees the company’s end-to-end supply chain, including procurement, manufacturing and distribution, purchased 451,000 shares at up to $11.83 a share for an investment of $5.2 million.

Director Peter Harf purchased 960,000 shares at up to $12.92 a share to total an investment of more than $12 million. And CEO Pierre Laubies, a seasoned business leader with three decades of experience in the consumer goods industry, purchased 648,000 shares at up to $11.64 a share, investing over $7.5 million.

In total, insiders now own 41.4% of Coty’s outstanding shares. These officers and directors are not just extremely knowledgeable about Coty. They have material, non-public information about its near-term earnings prospects.

Those corporate officials realize that the company is likely to beat expectations, thanks to buyouts, new marketing and innovative product development.

Coty also is amid a complete revamping of its store presentations and is ramping up its e-commerce efforts. This is likely to boost sales, earnings, the dividend and, ultimately, the share price. So, pick up Coty at market. And place a sell stop at $11 for protection.

Subscribe to Mark Skousen's High-Income Alert here…