Renaissance Technologies LLC purchased a new position in Coach, Inc. (NYSE:COH) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 281,500 shares of the luxury accessories retailer’s stock, valued at approximately $13,326,000. Renaissance Technologies LLC owned approximately 0.10% of Coach at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of COH. Dupont Capital Management Corp purchased a new position in Coach during the 2nd quarter valued at about $118,000. Winslow Evans & Crocker Inc. grew its stake in shares of Coach by 18.1% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after buying an additional 400 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Coach in the 2nd quarter valued at approximately $188,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Coach in the 2nd quarter valued at approximately $192,000. Finally, NEXT Financial Group Inc grew its stake in shares of Coach by 5.0% in the 2nd 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. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts recently commented on COH shares. Canaccord Genuity initiated coverage on Coach in a research note on Friday, June 30th. They issued a “buy” rating and a $59.00 price target for the company. Deutsche Bank AG upgraded Coach to a “buy” rating in a report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) upgraded Coach to a “buy” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Coach in a report on Tuesday, July 4th. Finally, Jefferies Group LLC set a $53.00 price target on Coach and gave the stock a “buy” rating in a report on Tuesday, July 4th. Two investment 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 stock. The company has an average rating of “Buy” and a consensus target price of $47.17.
In other news, SVP Melinda Brown sold 8,250 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
Coach, Inc. (NYSE COH) opened at 40.39 on Friday. Coach, Inc. has a 12-month low of $34.16 and a 12-month high of $48.85. The company has a market capitalization of $11.41 billion, a P/E ratio of 19.33 and a beta of 0.44. The company’s 50 day moving average price is $40.14 and its 200-day moving average price is $43.56.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Coach, Inc. will post $2.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, September 7th. Coach’s dividend payout ratio (DPR) is presently 64.59%.
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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