Public Employees Retirement Association of Colorado boosted its stake in shares of Coach, Inc. (NYSE:COH) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,355 shares of the luxury accessories retailer’s stock after buying an additional 18 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Coach were worth $2,526,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Coach during the first quarter valued at approximately $510,000. Ledyard National Bank purchased a new stake in shares of Coach during the first quarter valued at approximately $482,000. DnB Asset Management AS increased its stake in shares of Coach by 6.4% in the first quarter. DnB Asset Management AS now owns 36,743 shares of the luxury accessories retailer’s stock valued at $1,519,000 after buying an additional 2,200 shares in the last quarter. Cullinan Associates Inc. increased its stake in shares of Coach by 2.7% in the first quarter. Cullinan Associates Inc. now owns 99,700 shares of the luxury accessories retailer’s stock valued at $4,121,000 after buying an additional 2,600 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Coach by 104.1% in the first quarter. CWM LLC now owns 128,720 shares of the luxury accessories retailer’s stock valued at $5,320,000 after buying an additional 65,659 shares in the last quarter. Institutional investors own 88.44% of the company’s stock.
Shares of Coach, Inc. (COH) traded down 1.51% on Friday, hitting $40.38. 3,770,007 shares of the company traded hands. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 19.32 and a beta of 0.45. The firm’s 50 day moving average price is $46.81 and its 200-day moving average price is $42.95. Coach, Inc. has a 1-year low of $34.07 and a 1-year high of $48.85.
Coach (NYSE:COH) last released its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Coach, Inc. will post $2.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a yield of 3.34%. Coach’s payout ratio is 64.59%.
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A number of analysts recently issued reports on the stock. Vetr downgraded shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective for the company. in a report on Monday, July 24th. Jefferies Group LLC downgraded shares of Coach from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $53.00 to $45.00 in a report on Monday, July 31st. OTR Global upgraded shares of Coach to a “positive” rating in a report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $55.00 price objective on shares of Coach and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the stock a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.92.
In other news, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total transaction of $137,627.28. Following the transaction, the insider now owns 43,198 shares in the company, valued at $1,989,699.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the transaction, the insider now owns 74,627 shares in the company, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Coach Company Profile
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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