Smith Graham & Co. Investment Advisors LP lowered its stake in shares of Coach Inc. (NYSE:COH) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 105,340 shares of the luxury accessories retailer’s stock after selling 670 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Coach were worth $4,292,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Coach during the second quarter valued at $48,321,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Coach during the first quarter worth approximately $45,839,000. American Century Companies Inc. boosted its stake in shares of 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 worth $136,056,000 after buying an additional 669,568 shares in the last quarter. Investec Asset Management LTD boosted its stake in shares of Coach by 49.5% in the first quarter. Investec Asset Management LTD now owns 772,926 shares of the luxury accessories retailer’s stock worth $30,987,000 after buying an additional 255,870 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Coach by 1,105.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 178,213 shares of the luxury accessories retailer’s stock worth $7,262,000 after buying an additional 163,434 shares in the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Coach Inc. (NYSE:COH) traded up 0.86% during midday trading on Thursday, reaching $36.21. 3,112,431 shares of the company traded hands. The stock’s 50-day moving average is $37.79 and its 200-day moving average is $39.51. Coach Inc. has a 1-year low of $27.93 and a 1-year high of $43.71. The stock has a market capitalization of $10.10 billion, a P/E ratio of 21.95 and a beta of 0.90.
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 predict that Coach Inc. will post $2.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Thursday, September 8th. Coach’s dividend payout ratio (DPR) is 81.82%.
A number of brokerages have commented on COH. Vetr raised shares of Coach from a “strong sell” rating to a “hold” rating and set a $39.55 target price for the company in a report on Wednesday, June 1st. Zacks Investment Research raised shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, June 29th. Argus reaffirmed a “hold” rating on shares of Coach in a report on Saturday, August 13th. Telsey Advisory Group raised shares of Coach from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Friday, August 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Coach in a report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.90.
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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