Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Coach Inc. (NYSE:COH) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,385 shares of the luxury accessories retailer’s stock, valued at approximately $871,000.
Other institutional investors have also bought and sold shares of the company. Conning Inc. raised its position 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 during the period. Nuveen Asset Management LLC raised its position in Coach by 0.3% in the first quarter. Nuveen Asset Management LLC now owns 30,937 shares of the luxury accessories retailer’s stock valued at $1,240,000 after buying an additional 99 shares during the period. Commonwealth Equity Services Inc raised its position in Coach by 1.1% in the first quarter. Commonwealth Equity Services Inc now owns 35,230 shares of the luxury accessories retailer’s stock valued at $1,412,000 after buying an additional 372 shares during the period. IBM Retirement Fund raised its position in Coach by 1.7% in the second quarter. IBM Retirement Fund now owns 33,045 shares of the luxury accessories retailer’s stock valued at $1,405,000 after buying an additional 558 shares during the period. Finally, City Holding Co. raised its position 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 during the period. 89.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coach Inc. (NYSE:COH) traded up 0.86% during trading on Thursday, reaching $36.21. 3,112,431 shares of the company’s stock were exchanged. Coach Inc. has a 52-week low of $27.93 and a 52-week high of $43.71. The company has a 50 day moving average of $37.89 and a 200 day moving average of $39.54. The firm 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 released its quarterly earnings data 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. The firm had revenue of $1.15 billion for 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 company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Equities analysts anticipate that Coach Inc. will post $2.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.35 annualized dividend and a yield of 3.73%. Coach’s dividend payout ratio is presently 81.82%.
Several research firms recently commented on COH. Deutsche Bank AG reissued a “hold” rating and issued a $43.00 target price on shares of Coach in a report on Wednesday, August 10th. Wells Fargo & Co. reissued an “outperform” rating and issued a $47.00 target price on shares of Coach in a report on Thursday, August 11th. Robert W. Baird raised Coach from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $45.00 to $50.00 in a report on Monday, July 18th. Jefferies Group reaffirmed a “buy” rating and set a $51.00 price objective on shares of Coach in a report on Thursday, June 9th. Finally, Vetr raised Coach from a “strong sell” rating to a “strong-buy” rating and set a $48.50 price objective on the stock in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Coach currently has a consensus rating of “Hold” and a consensus price target of $41.90.
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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