Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Coach, Inc. (NYSE:COH) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,886 shares of the luxury accessories retailer’s stock after purchasing an additional 70 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Coach were worth $989,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Coach by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock valued at $57,607,000 after purchasing an additional 908,228 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Coach by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 630,401 shares of the luxury accessories retailer’s stock valued at $29,843,000 after purchasing an additional 12,403 shares during the period. Todd Asset Management LLC raised its position in shares of Coach by 667.3% during the 2nd quarter. Todd Asset Management LLC now owns 300,998 shares of the luxury accessories retailer’s stock valued at $14,250,000 after purchasing an additional 261,769 shares during the period. Sawtooth Solutions LLC raised its position in shares of Coach by 12.0% during the 2nd quarter. Sawtooth Solutions LLC now owns 7,636 shares of the luxury accessories retailer’s stock valued at $361,000 after purchasing an additional 821 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Coach by 0.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 239,074 shares of the luxury accessories retailer’s stock valued at $11,318,000 after purchasing an additional 1,571 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.
Shares of Coach, Inc. (NYSE:COH) opened at 41.28 on Wednesday. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85. The firm has a 50-day moving average of $44.10 and a 200 day moving average of $43.41. The stock has a market capitalization of $11.67 billion, a PE ratio of 19.75 and a beta of 0.44.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts forecast that Coach, Inc. will post $2.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio is presently 64.59%.
In other Coach news, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares in the company, valued at $2,958,030.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.
Several analysts have recently commented on COH shares. OTR Global upgraded shares of Coach to a “positive” rating in a research report on Friday, July 21st. Buckingham Research upgraded shares of Coach from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.00 to $58.00 in a research report on Monday, June 26th. BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the company a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC set a $53.00 price objective on shares of Coach and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Canaccord Genuity started coverage on shares of Coach in a research report on Friday, June 30th. They set a “buy” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Coach presently has an average rating of “Buy” and an average price target of $48.03.
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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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