Jacobi Capital Management LLC trimmed its stake in Coach, Inc. (NYSE:COH) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,374 shares of the luxury accessories retailer’s stock after selling 698 shares during the period. Coach comprises 0.6% of Jacobi Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Jacobi Capital Management LLC’s holdings in Coach were worth $1,635,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new stake in shares of Coach in the 2nd quarter valued at approximately $118,000. Winslow Evans & Crocker Inc. raised 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 acquiring an additional 400 shares during the period. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Coach in the 1st quarter valued at approximately $153,000. NEXT Financial Group Inc raised 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 acquiring an additional 200 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Coach in the 2nd quarter valued at approximately $206,000. 86.32% of the stock is currently owned by institutional investors and hedge funds.
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In other Coach news, SVP Melinda Brown sold 8,250 shares of Coach stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the transaction, the senior vice president now owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the transaction, the chief accounting officer now directly owns 72,412 shares in the company, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Vetr downgraded shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price target on the stock. in a research note on Monday, July 24th. Jefferies Group LLC downgraded shares of Coach from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global raised shares of Coach to a “positive” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $55.00 price target on shares of Coach and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the company a “hold” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the stock. The stock 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 Friday. The company has a 50-day moving average of $42.92 and a 200 day moving average of $43.54. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85. The stock has a market cap of $11.29 billion, a P/E ratio of 19.11 and a beta of 0.44.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Coach, Inc. will post $2.38 EPS 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 given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio (DPR) is presently 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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