Coach, Inc. (COH) Holdings Lowered by Fayez Sarofim & Co.
Fayez Sarofim & Co. cut its position in Coach, Inc. (NYSE:COH) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,663 shares of the luxury accessories retailer’s stock after selling 5,960 shares during the period. Fayez Sarofim & Co.’s holdings in Coach were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in COH. UBS Asset Management Americas Inc. increased its position in shares of Coach by 90.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,331,344 shares of the luxury accessories retailer’s stock valued at $55,024,000 after purchasing an additional 633,309 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Coach in the 1st quarter valued at approximately $1,922,000. CI Investments Inc. purchased a new stake in shares of Coach in the 1st quarter valued at approximately $9,423,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Coach by 29.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,816 shares of the luxury accessories retailer’s stock valued at $860,000 after purchasing an additional 4,744 shares during the last quarter. Finally, Caldwell & Orkin Inc. purchased a new stake in shares of Coach in the 1st quarter valued at approximately $856,000. 86.32% of the stock is currently owned by institutional investors.
COH has been the topic of a number of recent analyst reports. 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 report on Thursday, June 15th. UBS AG lowered their target price on shares of Coach from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Nomura set a $53.00 target price on shares of Coach and gave the company a “buy” rating in a report on Wednesday, August 16th. Vetr upgraded shares of Coach from a “sell” rating to a “hold” rating and set a $45.98 target price for the company in a report on Monday, August 14th. Finally, Buckingham Research restated a “buy” rating and issued a $56.00 target price (down previously from $58.00) on shares of Coach in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Coach currently has a consensus rating of “Buy” and a consensus target price of $48.03.
In other Coach news, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
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Shares of Coach, Inc. (COH) traded down 1.21% during trading on Monday, hitting $40.90. 486,100 shares of the stock were exchanged. The stock has a 50-day moving average of $43.35 and a 200 day moving average of $43.43. The stock has a market cap of $11.56 billion, a P/E ratio of 19.57 and a beta of 0.44. Coach, Inc. has a 12-month low of $34.07 and a 12-month high of $48.85.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts predict that Coach, Inc. will post $2.38 earnings per share 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 issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, September 7th. Coach’s payout ratio 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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