Coach, Inc. (COH) Position Raised by Marble Harbor Investment Counsel LLC
Marble Harbor Investment Counsel LLC boosted its stake in shares of Coach, Inc. (NYSE:COH) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,729 shares of the luxury accessories retailer’s stock after buying an additional 100 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Coach were worth $3,159,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in shares of Coach during the second quarter valued at about $1,386,000. Mn Services Vermogensbeheer B.V. increased its position in shares of Coach by 509.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,551 shares of the luxury accessories retailer’s stock valued at $2,156,000 after buying an additional 38,074 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Coach during the second quarter valued at about $355,000. Teza Capital Management LLC purchased a new position in shares of Coach during the first quarter valued at about $771,000. Finally, Scopus Asset Management L.P. increased its position in shares of Coach by 53.9% in the first quarter. Scopus Asset Management L.P. now owns 1,700,000 shares of the luxury accessories retailer’s stock valued at $70,261,000 after buying an additional 595,300 shares during the last quarter. 86.34% of the stock is currently owned by institutional investors and hedge funds.
Coach, Inc. (COH) traded up 0.619% on Thursday, reaching $41.455. 578,311 shares of the company’s stock were exchanged. The stock has a market capitalization of $11.71 billion, a PE ratio of 19.835 and a beta of 0.45. The firm has a 50 day moving average of $46.00 and a 200 day moving average of $43.10. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts predict that Coach, Inc. will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, September 7th. Coach’s payout ratio is 64.59%.
Several equities analysts recently issued reports on COH shares. Vetr downgraded shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective on the stock. in a research note on Monday, August 7th. Instinet reissued a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of Coach in a research note on Wednesday, May 3rd. Goldman Sachs Group Inc raised shares of Coach from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $55.00 in a research report on Tuesday, May 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Coach in a research report on Monday, May 15th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $49.00 price target (up previously from $40.00) on shares of Coach in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $47.92.
In other Coach news, CAO Todd Kahn sold 4,586 shares of the stock in a transaction 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 owns 72,412 shares in the company, valued at approximately $2,958,030.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by company insiders.
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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