Coach, Inc. (COH) Shares Sold by Horizon Investments LLC
Horizon Investments LLC cut its holdings in shares of Coach, Inc. (NYSE:COH) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,466 shares of the luxury accessories retailer’s stock after selling 229 shares during the period. Horizon Investments LLC’s holdings in Coach were worth $655,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. grew its position in Coach by 0.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock worth $482,000 after acquiring an additional 32 shares during the last quarter. Cleararc Capital Inc. grew its position in Coach by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock worth $283,000 after acquiring an additional 34 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Coach by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock worth $451,000 after acquiring an additional 47 shares during the last quarter. LS Investment Advisors LLC grew its position in Coach by 0.5% during the 2nd quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock worth $487,000 after acquiring an additional 53 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Coach by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,886 shares of the luxury accessories retailer’s stock worth $989,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.
In related news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the sale, 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 is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares in the company, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
COH has been the topic of a number of research analyst reports. OTR Global upgraded Coach to a “positive” rating in a research report on Friday, July 21st. Buckingham Research upgraded Coach from a “neutral” rating to a “buy” rating and increased their price target for the stock from $45.00 to $58.00 in a research report on Monday, June 26th. BMO Capital Markets set a $42.00 price target on Coach and gave the stock a “hold” rating in a research report on Thursday, July 6th. Sanford C. Bernstein initiated coverage on Coach in a research report on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price target on the stock. Finally, Canaccord Genuity initiated coverage on Coach in a research report on Friday, June 30th. They set a “buy” rating and a $59.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $47.92.
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Coach, Inc. (COH) traded up 0.15% during mid-day trading on Friday, hitting $39.67. The company’s stock had a trading volume of 951,999 shares. 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 $42.92 and a 200-day moving average of $43.54. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 18.98 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 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Coach, Inc. will post $2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.41%. Coach’s dividend payout ratio is currently 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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