Coach, Inc. (COH) Holdings Raised by Calamos Advisors LLC
Calamos Advisors LLC raised its position in Coach, Inc. (NYSE:COH) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,637 shares of the luxury accessories retailer’s stock after acquiring an additional 16,137 shares during the period. Calamos Advisors LLC’s holdings in Coach were worth $4,859,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Coach by 3,072.2% during the first quarter. BlackRock Inc. now owns 17,674,190 shares of the luxury accessories retailer’s stock worth $730,475,000 after buying an additional 17,117,023 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Coach by 19.9% during the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares during the period. Vanguard Group Inc. lifted its stake in shares of Coach by 5.5% during the first quarter. Vanguard Group Inc. now owns 27,983,084 shares of the luxury accessories retailer’s stock worth $1,156,541,000 after buying an additional 1,464,098 shares during the period. RidgeWorth Capital Management LLC acquired a new stake in shares of Coach during the first quarter worth $45,659,000. Finally, OppenheimerFunds Inc. lifted its stake in shares of Coach by 1,335.1% during the first quarter. OppenheimerFunds Inc. now owns 979,553 shares of the luxury accessories retailer’s stock worth $40,485,000 after buying an additional 911,298 shares during the period. Institutional investors own 86.35% of the company’s stock.
In other Coach news, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.81% of the company’s stock.
Several equities research analysts have recently commented on COH shares. Canaccord Genuity started coverage on shares of Coach in a research note on Friday, June 30th. They set a “buy” rating and a $59.00 price objective for the company. Buckingham Research upgraded shares of Coach from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $58.00 in a research note on Monday, June 26th. UBS AG reiterated a “buy” rating and set a $55.00 price objective (up from $49.00) on shares of Coach in a research note on Thursday, May 25th. Jefferies Group LLC set a $53.00 price objective on shares of Coach and gave the stock a “buy” rating in a research note on Friday, May 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $47.92.
Shares of Coach, Inc. (COH) opened at 41.52 on Thursday. The stock’s 50 day moving average is $44.76 and its 200-day moving average is $43.36. The stock has a market cap of $11.73 billion, a PE ratio of 19.87 and a beta of 0.44. Coach, Inc. has a 1-year low of $34.07 and a 1-year high of $48.85.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. Coach’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts predict that Coach, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a yield of 3.25%. Coach’s dividend payout ratio (DPR) is 64.59%.
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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