Nationwide Fund Advisors decreased its position in Coach, Inc. (NYSE:COH) by 21.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,523 shares of the luxury accessories retailer’s stock after selling 69,199 shares during the quarter. Nationwide Fund Advisors owned 0.09% of Coach worth $11,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp bought a new stake in Coach in the 2nd quarter worth approximately $118,000. Winslow Evans & Crocker Inc. lifted its position in Coach by 18.1% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in Coach in the 1st quarter worth approximately $153,000. Seven Eight Capital LP bought a new stake in Coach in the 2nd quarter worth approximately $188,000. Finally, NEXT Financial Group Inc lifted its position in Coach by 5.0% in the 2nd quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock worth $199,000 after buying an additional 200 shares during the last quarter. Institutional investors own 86.32% of the company’s stock.
A number of equities analysts have commented on the company. Piper Jaffray Companies lifted their price target on Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. BidaskClub raised Coach from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Vetr raised Coach from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research note on Tuesday, June 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $50.00 price target (up from $45.00) on shares of Coach in a research note on Thursday, June 15th. Finally, Buckingham Research raised Coach from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $58.00 in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.92.
Shares of Coach, Inc. (NYSE:COH) opened at 39.95 on Monday. The company has a market capitalization of $11.29 billion, a P/E ratio of 19.11 and a beta of 0.44. The firm has a 50-day moving average price of $42.92 and a 200 day moving average price of $43.54. Coach, Inc. has a 12-month low of $34.07 and a 12-month 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 (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.45 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Coach, Inc. will post $2.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.38%. Coach’s dividend payout ratio is presently 64.59%.
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In other news, SVP Melinda Brown sold 8,250 shares of Coach 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 transaction, the senior vice president now directly owns 42,884 shares in the company, valued at approximately $1,770,251.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the transaction, the chief accounting officer now owns 72,412 shares in the company, valued at $2,958,030.20. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
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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