Conning Inc. increased its stake in Coach Inc. (NYSE:COH) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,456 shares of the luxury accessories retailer’s stock after buying an additional 20 shares during the period. Conning Inc.’s holdings in Coach were worth $263,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of COH. Geode Capital Management LLC raised its position in Coach by 2.6% in the first quarter. Geode Capital Management LLC now owns 2,270,176 shares of the luxury accessories retailer’s stock valued at $90,829,000 after buying an additional 56,634 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Coach during the first quarter valued at about $917,000. Legal & General Group Plc raised its position in Coach by 2.7% in the first quarter. Legal & General Group Plc now owns 1,267,087 shares of the luxury accessories retailer’s stock valued at $50,799,000 after buying an additional 33,163 shares during the last quarter. Greylin Investment Mangement Inc. raised its position in Coach by 5.2% in the second quarter. Greylin Investment Mangement Inc. now owns 737,030 shares of the luxury accessories retailer’s stock valued at $30,027,000 after buying an additional 36,430 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Coach by 1.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 414,659 shares of the luxury accessories retailer’s stock valued at $16,624,000 after buying an additional 4,159 shares during the last quarter. Institutional investors own 89.72% of the company’s stock.
Shares of Coach Inc. (NYSE:COH) traded down 0.33% during mid-day trading on Wednesday, reaching $36.65. The company’s stock had a trading volume of 3,485,203 shares. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 22.21 and a beta of 0.90. Coach Inc. has a 12 month low of $28.70 and a 12 month high of $43.71. The company’s 50-day moving average is $37.45 and its 200 day moving average is $39.44.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities analysts anticipate that Coach Inc. will post $2.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were given a dividend of $0.3375 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.68%. Coach’s dividend payout ratio (DPR) is currently 81.82%.
COH has been the subject of several analyst reports. Piper Jaffray Cos. restated an “overweight” rating and set a $46.00 target price on shares of Coach in a research report on Tuesday, August 30th. Jefferies Group reissued a “buy” rating on shares of Coach in a research note on Friday, September 2nd. Credit Agricole SA initiated coverage on shares of Coach in a report on Wednesday, September 28th. They set a “buy” rating and a $45.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating on shares of Coach in a research note on Tuesday, August 23rd. Finally, TheStreet cut shares of Coach from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus 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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