LMR Partners LLP cut its stake in Coach Inc. (NYSE:COH) by 20.2% during the second quarter, Holdings Channel reports. The institutional investor owned 25,574 shares of the luxury accessories retailer’s stock after selling 6,461 shares during the period. LMR Partners LLP’s holdings in Coach were worth $1,042,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new stake in Coach during the second quarter valued at about $140,000. NEXT Financial Group Inc boosted its stake in Coach by 23.2% in the second quarter. NEXT Financial Group Inc now owns 4,764 shares of the luxury accessories retailer’s stock valued at $194,000 after buying an additional 897 shares in the last quarter. Conning Inc. boosted its stake in Coach by 0.3% in the second quarter. Conning Inc. now owns 6,456 shares of the luxury accessories retailer’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. City Holding Co. boosted its stake in Coach by 8.8% in the second quarter. City Holding Co. now owns 7,072 shares of the luxury accessories retailer’s stock valued at $288,000 after buying an additional 572 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Coach during the first quarter valued at about $349,000. Institutional investors and hedge funds own 89.72% of the company’s stock.
Shares of Coach Inc. (NYSE:COH) traded down 0.19% during midday trading on Friday, hitting $36.50. 2,187,084 shares of the stock were exchanged. Coach Inc. has a one year low of $28.70 and a one year high of $43.71. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 22.12 and a beta of 0.90. The firm has a 50 day moving average of $37.29 and a 200-day moving average of $39.40.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The firm earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. Equities analysts expect that Coach Inc. will post $2.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s dividend payout ratio (DPR) is 81.82%.
Several analysts have issued reports on the stock. OTR Global upgraded shares of Coach to a “positive” rating in a research note on Monday, August 1st. Guggenheim started coverage on shares of Coach in a research report on Friday, September 30th. They set a “buy” rating and a $50.00 price objective on the stock. Credit Agricole SA started coverage on shares of Coach in a research report on Wednesday, September 28th. They set a “buy” rating and a $45.00 price objective on the stock. Robert W. Baird upgraded shares of Coach from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $50.00 in a research report on Monday, July 18th. Finally, Cowen and Company restated an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-two have assigned a buy rating to the company. Coach presently has a consensus rating of “Hold” and an average price target of $42.13.
Coach Company Profile
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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