Mn Services Vermogensbeheer B.V. boosted its stake in shares of Coach, Inc. (NYSE:COH) by 509.2% during the second quarter, Holdings Channel reports. The institutional investor owned 45,551 shares of the luxury accessories retailer’s stock after buying an additional 38,074 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Coach were worth $2,156,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in Coach during the second quarter valued at about $1,939,000. National Pension Service increased its stake in Coach by 9.4% in the second quarter. National Pension Service now owns 311,929 shares of the luxury accessories retailer’s stock valued at $14,617,000 after buying an additional 26,874 shares in the last quarter. Cullinan Associates Inc. increased its stake in Coach by 2.8% in the second quarter. Cullinan Associates Inc. now owns 102,500 shares of the luxury accessories retailer’s stock valued at $4,852,000 after buying an additional 2,800 shares in the last quarter. NEXT Financial Group Inc increased its stake in Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock valued at $199,000 after buying an additional 200 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Coach by 19.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 16,923 shares of the luxury accessories retailer’s stock valued at $801,000 after buying an additional 2,739 shares in the last quarter. 88.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coach, Inc. (NYSE COH) opened at 48.15 on Thursday. The firm’s 50-day moving average is $46.85 and its 200-day moving average is $41.37. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.40. The company has a market cap of $13.54 billion, a PE ratio of 26.00 and a beta of 0.45.
Coach (NYSE:COH) last announced its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $995.20 million for the quarter, compared to analyst estimates of $1.02 billion. Coach had a net margin of 11.55% and a return on equity of 21.36%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities research analysts predict that Coach, Inc. will post $2.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.80%. The ex-dividend date was Wednesday, June 7th. Coach’s payout ratio is currently 72.97%.
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Several research firms have issued reports on COH. MKM Partners began coverage on Coach in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 price target on the stock. BMO Capital Markets set a $42.00 price target on Coach and gave the company a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $53.00 price target on Coach and gave the company a “buy” rating in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a research note on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $48.44.
In other news, insider Andre Cohen sold 10,087 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $45.35, for a total transaction of $457,445.45. Following the completion of the transaction, the insider now directly owns 46,186 shares of the company’s stock, valued at $2,094,535.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $45.45, for a total transaction of $884,002.50. Following the transaction, the chief accounting officer now directly owns 98,343 shares of the company’s stock, valued at $4,469,689.35. The disclosure for this sale can be found here. Insiders have sold 44,359 shares of company stock worth $2,023,928 in the last three months. 0.81% of the stock is currently owned by insiders.
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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