Daiwa Securities Group Inc. boosted its stake in Coach Inc. (NYSE:COH) by 378.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,500 shares of the luxury accessories retailer’s stock after buying an additional 43,100 shares during the period. Daiwa Securities Group Inc.’s holdings in Coach were worth $2,219,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exane Derivatives raised its position in Coach by 105.4% in the first quarter. Exane Derivatives now owns 101,062 shares of the luxury accessories retailer’s stock valued at $4,052,000 after buying an additional 51,848 shares during the period. Gagnon Securities LLC increased its position in shares of Coach by 2.0% in the first quarter. Gagnon Securities LLC now owns 29,124 shares of the luxury accessories retailer’s stock valued at $1,168,000 after buying an additional 570 shares during the period. Dynamic Advisors Solutions LLC bought a new position in shares of Coach during the first quarter valued at $311,000. Nisa Investment Advisors L.L.C. increased its position in shares of Coach by 7.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 95,974 shares of the luxury accessories retailer’s stock valued at $3,848,000 after buying an additional 6,950 shares during the period. Finally, Aperio Group LLC increased its position in shares of Coach by 52.3% in the first quarter. Aperio Group LLC now owns 103,715 shares of the luxury accessories retailer’s stock valued at $4,158,000 after buying an additional 35,602 shares during the period. 89.72% of the stock is currently owned by institutional investors.
Shares of Coach Inc. (NYSE:COH) traded down 1.58% during mid-day trading on Friday, hitting $36.04. The stock had a trading volume of 2,305,285 shares. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 21.84 and a beta of 0.90. Coach Inc. has a one year low of $27.22 and a one year high of $43.71. The firm has a 50 day moving average of $38.37 and a 200 day moving average of $39.60.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Coach had a return on equity of 21.32% and a net margin of 10.25%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, analysts forecast that Coach Inc. will post $2.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.35 annualized dividend and a yield of 3.75%. Coach’s dividend payout ratio (DPR) is currently 81.82%.
Several research analysts have weighed in on COH shares. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $46.00 target price on shares of Coach in a research note on Tuesday, August 30th. Jefferies Group reiterated a “buy” rating on shares of Coach in a research note on Friday, September 2nd. Cowen and Company reiterated an “outperform” rating on shares of Coach in a research note on Tuesday, August 23rd. TheStreet downgraded Coach from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Finally, BlueFin Research reiterated an “outperform” rating and issued a $45.00 target price on shares of Coach in a research note on Monday, August 29th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.81.
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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