Franklin Street Advisors Inc. NC Buys 32,327 Shares of Coach Inc. (COH)
Franklin Street Advisors Inc. NC increased its stake in Coach Inc. (NYSE:COH) by 28.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,082 shares of the luxury accessories retailer’s stock after buying an additional 32,327 shares during the period. Franklin Street Advisors Inc. NC owned about 0.05% of Coach worth $5,268,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Coach by 3.2% in the second quarter. Vanguard Group Inc. now owns 24,943,401 shares of the luxury accessories retailer’s stock valued at $1,016,194,000 after buying an additional 778,882 shares during the period. FMR LLC raised its position in shares of Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock worth $584,978,000 after buying an additional 927,743 shares during the last quarter. American International Group Inc. raised its position in shares of Coach by 5.3% in the second quarter. American International Group Inc. now owns 12,261,186 shares of the luxury accessories retailer’s stock worth $499,521,000 after buying an additional 615,845 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Coach by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,182,128 shares of the luxury accessories retailer’s stock worth $292,600,000 after buying an additional 64,768 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Coach by 13.5% in the second quarter. Jennison Associates LLC now owns 5,559,366 shares of the luxury accessories retailer’s stock worth $226,489,000 after buying an additional 661,009 shares during the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coach Inc. (NYSE:COH) traded up 0.48% during mid-day trading on Wednesday, reaching $37.62. The company had a trading volume of 1,847,175 shares. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 21.87 and a beta of 0.58. The firm’s 50-day moving average is $36.15 and its 200 day moving average is $38.66. Coach Inc. has a 12 month low of $28.75 and a 12 month high of $43.71.
Coach (NYSE:COH) last posted its earnings results on Tuesday, November 1st. The luxury accessories retailer reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Coach had a return on equity of 21.30% and a net margin of 10.70%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts predict that Coach Inc. will post $2.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be issued a dividend of $0.3375 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.35 annualized dividend and a yield of 3.59%. Coach’s dividend payout ratio is presently 78.49%.
A number of equities analysts have issued reports on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $47.00 target price on shares of Coach in a research report on Tuesday, August 2nd. Vetr lowered 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. Zacks Investment Research lowered Coach from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. OTR Global raised Coach to a “positive” rating in a research report on Monday, August 1st. Finally, Credit Suisse Group AG raised Coach from a “neutral” rating to an “outperform” rating and upped their target price for the company from $42.00 to $47.00 in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.28.
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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