WESPAC Advisors LLC Increases Position in Coach Inc. (COH)
WESPAC Advisors LLC increased its position in Coach Inc. (NYSE:COH) by 13.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,263 shares of the luxury accessories retailer’s stock after buying an additional 4,860 shares during the period. Coach comprises approximately 1.7% of WESPAC Advisors LLC’s portfolio, making the stock its 16th largest position. WESPAC Advisors LLC’s holdings in Coach were worth $1,640,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Coach during the fourth quarter worth $95,338,000. Bank of Montreal Can bought a new stake in shares of Coach during the second quarter worth $48,321,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Coach during the first quarter worth $45,839,000. Investec Asset Management LTD boosted its stake in shares of Coach by 49.5% in the first quarter. Investec Asset Management LTD now owns 772,926 shares of the luxury accessories retailer’s stock worth $30,987,000 after buying an additional 255,870 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Coach by 1,105.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 178,213 shares of the luxury accessories retailer’s stock worth $7,262,000 after buying an additional 163,434 shares in the last quarter. 89.72% of the stock is owned by institutional investors.
Coach Inc. (NYSE:COH) traded up 0.53% during trading on Wednesday, reaching $36.03. The company had a trading volume of 3,181,106 shares. Coach Inc. has a one year low of $27.22 and a one year high of $43.71. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 21.84 and a beta of 0.90. The company has a 50-day moving average price of $38.75 and a 200 day moving average price of $39.65.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $0.31 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts expect that Coach Inc. will post $2.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, September 8th. Coach’s payout ratio is 81.82%.
Several equities analysts recently weighed in on COH shares. Morgan Stanley cut Coach from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective for the company. in a research report on Wednesday, September 14th. Robert W. Baird raised Coach from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research report on Monday, July 18th. Cowen and Company reissued an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $46.00 price objective on shares of Coach in a research report on Thursday, September 8th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $43.00 price objective on shares of Coach in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.81.
Coach Company Profile
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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