Dimensional Fund Advisors LP raised its position in Coach Inc. (NYSE:COH) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,037,775 shares of the luxury accessories retailer’s stock after buying an additional 216 shares during the period. Dimensional Fund Advisors LP owned approximately 0.37% of Coach worth $42,274,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Coach during the second quarter worth about $48,321,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Coach during the first quarter valued at about $45,839,000. Cornerstone Capital Management LLC increased its stake in shares of Coach by 175.9% in the second quarter. Cornerstone Capital Management LLC now owns 1,193,948 shares of the luxury accessories retailer’s stock valued at $48,641,000 after buying an additional 761,136 shares during the period. American Century Companies Inc. increased 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 valued at $136,056,000 after buying an additional 669,568 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Coach by 13.5% in the second quarter. Jennison Associates LLC now owns 5,559,366 shares of the luxury accessories retailer’s stock valued at $226,489,000 after buying an additional 661,009 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.
Coach Inc. (NYSE:COH) opened at 35.86 on Friday. 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 price of $36.76 and a 200-day moving average price of $39.31. The company has a market capitalization of $10.00 billion, a P/E ratio of 21.73 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, topping the 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 earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that Coach Inc. will post $2.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a $0.3375 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.76%. Coach’s dividend payout ratio (DPR) is currently 81.82%.
Several brokerages have issued reports on COH. Vetr downgraded shares of Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 price objective for the company. in a research report on Tuesday, August 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $47.00 price objective on shares of Coach in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Coach from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. OTR Global raised shares of Coach to a “positive” rating in a research report on Monday, August 1st. Finally, Credit Suisse Group AG raised shares of Coach from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $42.00 to $47.00 in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price 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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