Parthenon LLC Has $1,530,000 Position in Coach Inc. (COH)
Parthenon LLC cut its stake in Coach Inc. (NYSE:COH) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,550 shares of the luxury accessories retailer’s stock after selling 300 shares during the period. Parthenon LLC’s holdings in Coach were worth $1,530,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. raised its stake in Coach by 7.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 95,974 shares of the luxury accessories retailer’s stock valued at $3,848,000 after buying an additional 6,950 shares during the period. Alexandria Capital LLC raised its stake in Coach by 109.2% in the first quarter. Alexandria Capital LLC now owns 96,417 shares of the luxury accessories retailer’s stock valued at $3,866,000 after buying an additional 50,322 shares during the period. Aperio Group LLC raised its stake in Coach by 52.3% in the first quarter. Aperio Group LLC now owns 103,715 shares of the luxury accessories retailer’s stock valued at $4,158,000 after buying an additional 35,602 shares during the period. Commonwealth Equity Services Inc raised its stake in Coach by 1.1% in the first quarter. Commonwealth Equity Services Inc now owns 35,230 shares of the luxury accessories retailer’s stock valued at $1,412,000 after buying an additional 372 shares during the period. Finally, Douglas Lane & Associates LLC bought a new stake in Coach during the first quarter valued at approximately $257,000. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Shares of Coach Inc. (NYSE:COH) traded up 0.53% on Wednesday, hitting $36.03. 3,181,106 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $38.75 and its 200 day moving average price is $39.65. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 21.84 and a beta of 0.90. Coach Inc. has a 12-month low of $27.22 and a 12-month high of $43.71.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Coach Inc. will post $2.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.75%. Coach’s payout ratio is currently 81.82%.
A number of equities research analysts have issued reports on the company. Vetr lowered Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 price target for the company. in a research note on Tuesday, August 2nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 price target on shares of Coach in a research note on Tuesday, August 2nd. Zacks Investment Research lowered Coach from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. OTR Global upgraded Coach to a “positive” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG upgraded Coach from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $42.00 to $47.00 in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.81.
Coach Company Profile
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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