SOL Capital Management CO Holds Position in Coach Inc. (COH)
SOL Capital Management CO continued to hold its stake in shares of Coach Inc. (NYSE:COH) during the second quarter, according to its most recent filing with the SEC. The fund owned 1,143,949 shares of the luxury accessories retailer’s stock at the end of the second quarter. Coach comprises 15.5% of SOL Capital Management CO’s portfolio, making the stock its largest position. SOL Capital Management CO owned 0.41% of Coach worth $46,604,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of Coach during the second quarter valued at about $48,321,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Coach during the first quarter valued at about $45,839,000. American Century Companies Inc. boosted its stake in shares of 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 period. Investec Asset Management LTD boosted its stake in shares of Coach by 49.5% in the first quarter. Investec Asset Management LTD now owns 772,926 shares of the luxury accessories retailer’s stock valued at $30,987,000 after buying an additional 255,870 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Coach by 1,105.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 178,213 shares of the luxury accessories retailer’s stock valued at $7,262,000 after buying an additional 163,434 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Coach Inc. (NYSE:COH) traded down 1.18% during trading on Friday, reaching $35.86. The company had a trading volume of 1,949,229 shares. The firm has a market capitalization of $10.00 billion, a P/E ratio of 21.73 and a beta of 0.90. The firm’s 50 day moving average price is $36.87 and its 200 day moving average price is $39.33. Coach Inc. has a 12 month low of $28.70 and a 12 month high of $43.71.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities analysts predict that Coach Inc. will post $2.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s dividend payout ratio is currently 81.82%.
Several analysts recently weighed in on COH shares. Morgan Stanley lowered Coach from an “equal weight” rating to an “underweight” rating and set a $32.00 price target on the stock. in a report on Wednesday, September 14th. Robert W. Baird upgraded Coach from a “neutral” rating to an “outperform” rating and increased their price target for the company from $45.00 to $50.00 in a report on Monday, July 18th. Cowen and Company restated an “outperform” rating on shares of Coach in a report on Tuesday, August 23rd. Piper Jaffray Cos. restated an “overweight” rating and set a $46.00 price target on shares of Coach in a report on Thursday, September 8th. Finally, Deutsche Bank AG restated a “hold” rating and set a $43.00 price target on shares of Coach in a report on Wednesday, August 10th. Two investment 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 company. The company presently has a consensus rating of “Hold” and an average target price of $42.13.
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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