Comerica Bank reduced its stake in shares of Coach, Inc. (NYSE:COH) by 23.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,063 shares of the luxury accessories retailer’s stock after selling 138,086 shares during the period. Comerica Bank’s holdings in Coach were worth $21,948,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of COH. Stratos Wealth Partners LTD. increased its stake in shares of Coach by 0.3% in the second quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock valued at $482,000 after buying an additional 32 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Coach by 0.5% in the first quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock valued at $283,000 after buying an additional 34 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Coach by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock valued at $451,000 after buying an additional 47 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in shares of Coach by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 8,403 shares of the luxury accessories retailer’s stock valued at $347,000 after buying an additional 49 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Coach by 0.5% in the second quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock valued at $487,000 after buying an additional 53 shares in the last quarter. Institutional investors own 88.44% of the company’s stock.

Coach, Inc. (COH) opened at 40.47 on Wednesday. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 21.85 and a beta of 0.45. The company has a 50-day moving average of $47.36 and a 200 day moving average of $42.95. Coach also saw some unusual options trading activity on Monday. Traders acquired 8,123 put options on the stock. This is an increase of 566% compared to the typical volume of 1,219 put options.

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, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 11.55% and a return on equity of 21.36%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.45 earnings per share. Coach’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Coach, Inc. will post $2.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.32%. Coach’s payout ratio is currently 72.97%.

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Several equities analysts recently weighed in on COH shares. UBS AG reaffirmed a “buy” rating and issued a $47.00 price target on shares of Coach in a research report on Wednesday, April 26th. Credit Suisse Group set a $55.00 price target on shares of Coach and gave the company a “buy” rating in a research report on Tuesday, May 9th. Deutsche Bank AG raised shares of Coach to a “buy” rating in a research report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) raised shares of Coach to a “buy” rating in a research report on Saturday, July 1st. Finally, Oppenheimer Holdings, Inc. set a $55.00 price target on shares of Coach and gave the company a “buy” rating in a research report on Tuesday. One research 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 company. The stock presently has an average rating of “Buy” and an average target price of $47.76.

In other news, insider Sarah Dunn sold 7,595 shares of the firm’s 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 owns 74,627 shares in the company, valued at approximately $3,438,065.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total transaction of $137,627.28. Following the completion of the sale, the insider now owns 43,198 shares of the company’s stock, valued at approximately $1,989,699.88. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

About Coach

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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Institutional Ownership by Quarter for Coach (NYSE:COH)

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