National Pension Service Buys 26,874 Shares of Coach, Inc. (NYSE:COH)
National Pension Service raised its position in Coach, Inc. (NYSE:COH) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,929 shares of the luxury accessories retailer’s stock after buying an additional 26,874 shares during the period. National Pension Service’s holdings in Coach were worth $14,617,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in Coach during the fourth quarter worth approximately $532,034,000. Cullinan Associates Inc. raised its stake in Coach by 2.7% in the first quarter. Cullinan Associates Inc. now owns 99,700 shares of the luxury accessories retailer’s stock worth $4,121,000 after buying an additional 2,600 shares in the last quarter. CWM LLC raised its stake in Coach by 104.1% in the first quarter. CWM LLC now owns 128,720 shares of the luxury accessories retailer’s stock worth $5,320,000 after buying an additional 65,659 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Coach during the fourth quarter worth approximately $712,000. Finally, CAPROCK Group Inc. raised its stake in Coach by 5.8% in the first quarter. CAPROCK Group Inc. now owns 19,903 shares of the luxury accessories retailer’s stock worth $823,000 after buying an additional 1,096 shares in the last quarter. 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. Coach, Inc. has a 12-month low of $34.07 and a 12-month high of $48.12. The company has a market cap of $13.49 billion, a P/E ratio of 25.91 and a beta of 0.45. The firm has a 50-day moving average of $46.15 and a 200-day moving average of $40.23.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Coach had a net margin of 11.55% and a return on equity of 21.36%. The business had revenue of $995.20 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts predict that Coach, Inc. will post $2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.35 dividend on an annualized basis and a yield of 2.81%. Coach’s dividend payout ratio (DPR) is presently 72.97%.
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COH has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price on shares of Coach in a report on Tuesday, March 21st. Piper Jaffray Companies set a $43.00 target price on shares of Coach and gave the stock a “buy” rating in a report on Monday, March 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $42.00 target price on shares of Coach in a report on Monday, April 3rd. Instinet reaffirmed a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Coach in a report on Wednesday, May 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 target price on shares of Coach in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $48.44.
In other news, insider Sarah Dunn sold 7,595 shares of Coach 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 transaction, the insider now owns 74,627 shares in the company, valued at $3,438,065.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of Coach stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total transaction of $884,002.50. Following the completion of the transaction, the chief accounting officer now owns 98,343 shares of the company’s stock, valued at approximately $4,469,689.35. The disclosure for this sale can be found here. Insiders have sold 44,359 shares of company stock valued at $2,023,928 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.
Coach Company Profile
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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