Bourgeon Capital Management LLC bought a new position in shares of Coach, Inc. (NYSE:COH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,725 shares of the luxury accessories retailer’s stock, valued at approximately $231,000.
Several other institutional investors have also recently added to or reduced their stakes in COH. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Coach during the second quarter worth about $115,000. Dupont Capital Management Corp acquired a new stake in shares of Coach during the second quarter worth about $118,000. Winslow Evans & Crocker Inc. lifted its holdings in shares of Coach by 18.1% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after purchasing an additional 400 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Coach during the second quarter worth about $188,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Coach during the second quarter worth about $192,000. 86.74% of the stock is owned by hedge funds and other institutional investors.
COH has been the subject of a number of research reports. Vetr downgraded Coach from a “hold” rating to a “sell” rating and set a $45.98 target price for the company. in a report on Monday, August 7th. Buckingham Research set a $48.00 target price on Coach and gave the stock a “buy” rating in a report on Friday, October 6th. Cowen and Company reaffirmed a “buy” rating and set a $46.00 target price on shares of Coach in a report on Thursday, September 28th. Piper Jaffray Companies downgraded Coach from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $48.00 to $43.00 in a report on Thursday, October 5th. Finally, UBS AG decreased their target price on Coach from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $47.17.
Shares of Coach, Inc. (NYSE:COH) traded down 0.94% during trading on Wednesday, hitting $39.90. The stock had a trading volume of 2,971,978 shares. The company has a market cap of $11.28 billion, a PE ratio of 19.09 and a beta of 0.44. The stock’s 50 day moving average is $40.08 and its 200-day moving average is $43.59. Coach, Inc. has a 12-month low of $34.16 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 (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that Coach, Inc. will post $2.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, September 7th. Coach’s dividend payout ratio (DPR) is 64.59%.
In other news, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the sale, the chief accounting officer now owns 72,412 shares in the company, valued at $2,958,030.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares in the company, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.
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Coach Company Profile
Tapestry, Inc, formerly Coach, Inc, 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 Tapestry brand products to North American customers through Tapestry-operated stores (including the Internet) and sales to North American wholesale customers.
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