Ontario Teachers Pension Plan Board Has $1.50 Million Position in Coach, Inc. (COH)
Ontario Teachers Pension Plan Board lifted its stake in shares of Coach, Inc. (NYSE:COH) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,765 shares of the luxury accessories retailer’s stock after acquiring an additional 6,073 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Coach were worth $1,504,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of COH. Stratos Wealth Partners LTD. raised its stake in Coach by 0.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock valued at $482,000 after purchasing an additional 32 shares during the last quarter. Cleararc Capital Inc. lifted its holdings in Coach by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock valued at $283,000 after purchasing an additional 34 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Coach by 0.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock valued at $451,000 after purchasing an additional 47 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in Coach by 0.5% in the 2nd quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock valued at $487,000 after purchasing an additional 53 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Coach by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,886 shares of the luxury accessories retailer’s stock valued at $989,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 86.32% of the company’s stock.
In other news, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction on 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 $2,958,030.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the transaction, the senior vice president now directly owns 42,884 shares in the company, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Shares of Coach, Inc. (NYSE COH) opened at 40.67 on Tuesday. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 19.46 and a beta of 0.44. The stock’s 50 day moving average price is $41.04 and its 200-day moving average price is $43.61. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities analysts forecast that Coach, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, September 7th. Coach’s dividend payout ratio (DPR) is currently 64.59%.
Several brokerages recently issued reports on COH. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Coach in a research note on Thursday, June 15th. UBS AG decreased their target price on shares of Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 17th. Nomura set a $53.00 target price on shares of Coach and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Vetr raised shares of Coach from a “sell” rating to a “hold” rating and set a $45.98 target price for the company in a research note on Monday, August 14th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $56.00 target price (down from $58.00) on shares of Coach in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the company’s stock. Coach presently has a consensus rating of “Buy” and a consensus target price of $47.84.
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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