Gotham Asset Management LLC increased its position in shares of Coach, Inc. (NYSE:COH) by 105.0% during the first quarter, Holdings Channel reports. The institutional investor owned 403,023 shares of the luxury accessories retailer’s stock after buying an additional 206,416 shares during the period. Gotham Asset Management LLC’s holdings in Coach were worth $16,657,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Ibex Wealth Advisors bought a new stake in shares of Coach during the fourth quarter worth about $102,000. Tompkins Financial Corp bought a new stake in shares of Coach during the first quarter worth about $120,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Coach during the first quarter worth about $153,000. MUFG Securities EMEA plc bought a new stake in shares of Coach during the first quarter worth about $201,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Coach during the first quarter worth about $204,000. Institutional investors own 88.82% of the company’s stock.
Coach, Inc. (COH) traded up 0.34% during midday trading on Thursday, hitting $46.71. 1,491,421 shares of the stock traded hands. The company’s 50-day moving average is $45.53 and its 200 day moving average is $39.81. The firm has a market cap of $13.13 billion, a P/E ratio of 25.22 and a beta of 0.36. Coach, Inc. has a 12-month low of $34.07 and a 12-month high of $47.30.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Coach, Inc. will post $2.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th will be paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, June 7th. Coach’s payout ratio is 72.97%.
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A number of analysts have issued reports on the stock. BlueFin Research set a $46.00 price target on shares of Coach and gave the company a “buy” rating in a report on Saturday, April 1st. Piper Jaffray Companies set a $47.00 price objective on shares of Coach and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $50.00 price objective (up from $45.00) on shares of Coach in a research note on Thursday, June 15th. Vetr raised shares of Coach from a “sell” rating to a “hold” rating and set a $46.00 price objective for the company in a research note on Tuesday, June 13th. Finally, BidaskClub raised shares of Coach from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $47.04.
In other news, CAO Todd Kahn sold 19,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $45.45, for a total value 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 $4,469,689.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andre Cohen sold 10,087 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $45.35, for a total transaction of $457,445.45. Following the completion of the transaction, the insider now directly owns 46,186 shares of the company’s stock, valued at approximately $2,094,535.10. The disclosure for this sale can be found here. In the last three months, insiders sold 44,359 shares of company stock valued at $2,023,928. Insiders own 0.81% of the company’s stock.
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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