Coach Inc. (COH) Stake Lowered by Flossbach Von Storch AG
Flossbach Von Storch AG lowered its position in Coach Inc. (NYSE:COH) by 26.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 424,940 shares of the luxury accessories retailer’s stock after selling 149,720 shares during the period. Flossbach Von Storch AG owned approximately 0.15% of Coach worth $17,312,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. CG Asset Management LLC increased its position in Coach by 4.8% in the second quarter. CG Asset Management LLC now owns 40,760 shares of the luxury accessories retailer’s stock valued at $1,661,000 after buying an additional 1,875 shares during the last quarter. ING Groep NV increased its position in Coach by 16.3% in the second quarter. ING Groep NV now owns 24,636 shares of the luxury accessories retailer’s stock valued at $1,004,000 after buying an additional 3,454 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Coach during the second quarter valued at about $871,000. Alps Advisors Inc. increased its position in Coach by 26.1% in the second quarter. Alps Advisors Inc. now owns 695,886 shares of the luxury accessories retailer’s stock valued at $28,350,000 after buying an additional 144,148 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Coach by 25.1% in the second quarter. American Century Companies Inc. now owns 3,339,629 shares of the luxury accessories retailer’s stock valued at $136,056,000 after buying an additional 669,568 shares during the last quarter. 89.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Coach Inc. (NYSE:COH) traded up 0.63% during midday trading on Tuesday, reaching $36.77. 2,555,556 shares of the company were exchanged. The company has a market capitalization of $10.26 billion, a PE ratio of 22.28 and a beta of 0.90. Coach Inc. has a 52-week low of $28.70 and a 52-week high of $43.71. The stock’s 50-day moving average price is $37.61 and its 200-day moving average price is $39.48.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The firm earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. Coach’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that Coach Inc. will post $2.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were given a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s payout ratio is currently 81.82%.
Several equities analysts recently issued reports on COH shares. Jefferies Group reissued a “buy” rating and issued a $51.00 target price on shares of Coach in a research report on Thursday, June 9th. Piper Jaffray Cos. reissued a “buy” rating and issued a $47.00 target price on shares of Coach in a research report on Wednesday, June 8th. Zacks Investment Research raised Coach from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, June 29th. Vetr downgraded Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 target price on the stock. in a research report on Tuesday, August 2nd. Finally, TheStreet raised Coach from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.13.
Coach Company Profile
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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