Commerzbank Aktiengesellschaft FI increased its position in Coach, Inc. (NYSE:COH) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,401 shares of the luxury accessories retailer’s stock after buying an additional 12,403 shares during the quarter. Commerzbank Aktiengesellschaft FI owned 0.22% of Coach worth $29,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Coach by 71.4% in the 4th quarter. Macquarie Group Ltd. now owns 16,800 shares of the luxury accessories retailer’s stock worth $589,000 after purchasing an additional 7,000 shares during the period. Korea Investment CORP increased its stake in Coach by 13.4% in the 1st quarter. Korea Investment CORP now owns 40,970 shares of the luxury accessories retailer’s stock worth $1,693,000 after purchasing an additional 4,841 shares during the period. Conning Inc. increased its stake in Coach by 1.2% in the 1st quarter. Conning Inc. now owns 6,501 shares of the luxury accessories retailer’s stock worth $269,000 after purchasing an additional 80 shares during the period. Canada Pension Plan Investment Board increased its stake in Coach by 54.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 255,713 shares of the luxury accessories retailer’s stock worth $10,569,000 after purchasing an additional 89,781 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Coach by 4.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,873 shares of the luxury accessories retailer’s stock worth $1,855,000 after purchasing an additional 1,903 shares during the period. Institutional investors own 86.35% of the company’s stock.
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In other news, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the transaction, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 target price (up from $45.00) on shares of Coach in a research note on Thursday, June 15th. UBS AG reduced their target price on Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Nomura set a $53.00 target price on Coach and gave the company a “buy” rating in a research note on Wednesday, August 16th. Vetr raised Coach from a “sell” rating to a “hold” rating and set a $45.98 price target on the stock in a research note on Monday, August 14th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $56.00 price target (down from $58.00) on shares of Coach in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Coach currently has a consensus rating of “Buy” and a consensus price target of $48.03.
Coach, Inc. (NYSE:COH) opened at 41.40 on Friday. The company’s 50-day moving average price is $43.35 and its 200-day moving average price is $43.43. Coach, Inc. has a 52 week low of $34.07 and a 52 week high of $48.85. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 19.81 and a beta of 0.44.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Equities analysts forecast that Coach, Inc. will post $2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.26%. Coach’s payout ratio is 64.59%.
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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