Strs Ohio boosted its position in shares of Coach Inc. (NYSE:COH) by 74.2% during the second quarter, Holdings Channel reports. The fund owned 43,834 shares of the luxury accessories retailer’s stock after buying an additional 18,674 shares during the period. Strs Ohio’s holdings in Coach were worth $1,785,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of 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 worth $90,829,000 after buying an additional 56,634 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Coach during the first quarter worth $917,000. Legal & General Group Plc boosted its position in shares of 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 worth $50,799,000 after buying an additional 33,163 shares during the last quarter. Greylin Investment Mangement Inc. boosted its position in shares of Coach by 5.2% in the second quarter. Greylin Investment Mangement Inc. now owns 737,030 shares of the luxury accessories retailer’s stock worth $30,027,000 after buying an additional 36,430 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of 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 worth $16,624,000 after buying an additional 4,159 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Coach Inc. (NYSE:COH) traded up 0.47% during trading on Monday, hitting $36.67. 1,824,103 shares of the stock traded hands. The company’s 50 day moving average is $37.29 and its 200 day moving average is $39.40. Coach Inc. has a one year low of $28.70 and a one year high of $43.71. The company has a market capitalization of $10.23 billion, a P/E ratio of 22.22 and a beta of 0.90.
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 the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. Coach’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Coach Inc. will post $2.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a dividend of $0.3375 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.68%. Coach’s dividend payout ratio (DPR) is currently 81.82%.
COH has been the topic of several research reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $46.00 price objective 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 report on Friday, September 2nd. Credit Agricole SA initiated coverage on Coach in a research report on Wednesday, September 28th. They issued a “buy” rating and a $45.00 price objective on the stock. Cowen and Company reissued an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Finally, TheStreet lowered Coach from a “buy” rating to a “hold” rating in a research 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 given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.13.
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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