Flossbach Von Storch AG increased its position in Coach, Inc. (NYSE:COH) by 31.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 525,790 shares of the luxury accessories retailer’s stock after buying an additional 126,840 shares during the period. Flossbach Von Storch AG owned approximately 0.19% of Coach worth $24,891,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of COH. Tompkins Financial Corp bought a new position in shares of Coach during the first quarter worth approximately $120,000. Winslow Evans & Crocker Inc. increased its position in shares of Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in shares of Coach during the first quarter worth approximately $153,000. NEXT Financial Group Inc increased its position in shares of Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock worth $199,000 after buying an additional 200 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Coach during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.
Coach, Inc. (NYSE COH) opened at 40.38 on Friday. The company’s 50-day moving average price is $46.81 and its 200 day moving average price is $42.95. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 19.32 and a beta of 0.45. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. Equities analysts predict that Coach, Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 annualized dividend and a yield of 3.34%. Coach’s dividend payout ratio is presently 64.59%.
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A number of brokerages have issued reports on COH. Piper Jaffray Companies reiterated a “buy” rating and set a $47.00 price target on shares of Coach in a research report on Monday, May 8th. Nomura reiterated a “buy” rating and set a $45.00 price target on shares of Coach in a research report on Wednesday, May 3rd. Vetr lowered Coach from a “strong-buy” rating to a “buy” rating and set a $46.00 price target for the company. in a research report on Tuesday, May 2nd. UBS AG reiterated a “buy” rating and set a $47.00 price target on shares of Coach in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price target on shares of Coach in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.92.
In other Coach news, insider Andre Cohen sold 2,988 shares of Coach stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the sale, the insider now owns 43,198 shares of the company’s stock, valued at approximately $1,989,699.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarah Dunn sold 7,595 shares of Coach stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the completion of the sale, the insider now directly owns 74,627 shares in the company, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
Coach Company Profile
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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