Sequoia Financial Advisors LLC purchased a new stake in shares of Coach Inc. (NYSE:COH) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,081 shares of the luxury accessories retailer’s stock, valued at approximately $451,000.
Several other institutional investors have also added to or reduced their stakes in COH. American Century Companies Inc. increased its position in Coach by 25.1% in the second quarter. American Century Companies Inc. now owns 3,339,629 shares of the luxury accessories retailer’s stock valued at $136,056,000 after buying an additional 669,568 shares during the last quarter. Geode Capital Management LLC increased 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. Legal & General Group Plc increased 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. Bank of Montreal Can acquired a new position in Coach during the second quarter valued at about $48,321,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Coach during the first quarter valued at about $45,839,000. 89.38% of the stock is owned by hedge funds and other institutional investors.
Coach Inc. (NYSE:COH) traded down 2.73% during midday trading on Monday, reaching $34.88. 6,458,055 shares of the company were exchanged. Coach Inc. has a 52 week low of $28.70 and a 52 week high of $43.71. The company has a 50-day moving average of $36.76 and a 200 day moving average of $39.31. The firm has a market capitalization of $9.73 billion, a PE ratio of 21.14 and a beta of 0.90.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The company 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%. Coach’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities analysts predict that Coach Inc. will post $2.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.87%. The ex-dividend date was Thursday, September 8th. Coach’s payout ratio is 81.82%.
COH has been the subject of several analyst reports. Telsey Advisory Group raised shares of Coach from a “market perform” rating to an “outperform” rating and set a $49.00 price target for the company in a research note on Friday, August 5th. BlueFin Research reissued an “outperform” rating and set a $45.00 target price on shares of Coach in a research note on Monday, August 29th. Piper Jaffray Cos. reissued an “overweight” rating and set a $46.00 target price on shares of Coach in a research note on Tuesday, August 30th. Jefferies Group reissued a “buy” rating and set a $53.00 target price on shares of Coach in a research note on Wednesday, August 3rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $43.00 target price on shares of Coach in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.13.
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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