Livforsakringsbolaget Skandia Omsesidigt Maintains Stake in Coach, Inc. (COH)
Livforsakringsbolaget Skandia Omsesidigt continued to hold its stake in shares of Coach, Inc. (NYSE:COH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,331 shares of the luxury accessories retailer’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Coach were worth $252,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in COH. Ibex Wealth Advisors acquired a new stake in shares of Coach during the fourth quarter valued at about $102,000. Tompkins Financial Corp acquired a new stake in shares of Coach during the first quarter valued at about $120,000. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Coach during the first quarter valued at about $153,000. MUFG Securities EMEA plc acquired a new stake in shares of Coach during the first quarter valued at about $201,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Coach during the first quarter valued at about $204,000. 88.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Coach, Inc. (NYSE:COH) opened at 47.99 on Monday. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 25.91 and a beta of 0.45. Coach, Inc. has a one year low of $34.07 and a one year high of $48.12. The stock’s 50 day moving average price is $46.15 and its 200 day moving average price is $40.23.
Coach (NYSE:COH) last announced its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $995.20 million for the quarter, compared to analyst estimates of $1.02 billion. Coach had a return on equity of 21.36% and a net margin of 11.55%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Coach, Inc. will post $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th were paid a dividend of $0.3375 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.81%. Coach’s dividend payout ratio (DPR) is currently 72.97%.
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Several equities research analysts recently issued reports on the company. UBS AG reissued a “buy” rating and issued a $55.00 price objective (up from $49.00) on shares of Coach in a research note on Thursday, May 25th. Deutsche Bank AG reissued a “hold” rating and issued a $40.00 price objective (up from $39.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Piper Jaffray Companies increased their price objective on Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. Finally, Zacks Investment Research downgraded Coach from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.44.
In other news, insider Andre Cohen sold 10,087 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $45.35, for a total transaction of $457,445.45. Following the transaction, the insider now owns 46,186 shares in the company, valued at $2,094,535.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total value of $884,002.50. Following the transaction, the chief accounting officer now owns 98,343 shares in the company, valued at approximately $4,469,689.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,359 shares of company stock worth $2,023,928. 0.81% of the stock is owned by corporate 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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