Coach Inc. (COH) Shares Sold by Eaton Vance Management
Eaton Vance Management reduced its stake in Coach Inc. (NYSE:COH) by 17.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,312 shares of the luxury accessories retailer’s stock after selling 10,761 shares during the period. Eaton Vance Management’s holdings in Coach were worth $2,009,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Coach by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,117,360 shares of the luxury accessories retailer’s stock valued at $285,335,000 after buying an additional 28,148 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Coach by 13.5% in the second quarter. Jennison Associates LLC now owns 5,559,366 shares of the luxury accessories retailer’s stock valued at $226,489,000 after buying an additional 661,009 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Coach by 25.1% in the second quarter. American Century Companies Inc. now owns 3,339,629 shares of the luxury accessories retailer’s stock valued at $136,056,000 after buying an additional 669,568 shares in the last quarter. Norges Bank acquired a new stake in shares of Coach during the fourth quarter valued at about $95,338,000. Finally, Geode Capital Management LLC increased its stake in shares of Coach by 2.6% in the first quarter. Geode Capital Management LLC now owns 2,270,176 shares of the luxury accessories retailer’s stock valued at $90,829,000 after buying an additional 56,634 shares in the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.
Coach Inc. (NYSE:COH) traded down 1.106% on Friday, reaching $36.215. The company’s stock had a trading volume of 1,035,914 shares. The company has a market cap of $10.10 billion, a P/E ratio of 21.948 and a beta of 0.90. The stock’s 50 day moving average price is $38.52 and its 200 day moving average price is $39.63. Coach Inc. has a 12 month low of $27.22 and a 12 month high of $43.71.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The business earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. Coach’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts forecast that Coach Inc. will post $2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a yield of 3.69%. Coach’s payout ratio is 81.82%.
COH has been the subject of several research analyst reports. Telsey Advisory Group raised Coach from a “market perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Friday, August 5th. BlueFin Research reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Coach in a research report on Monday, August 29th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Coach in a research report on Tuesday, August 30th. Vetr raised Coach from a “strong sell” rating to a “hold” rating and set a $39.55 target price on the stock in a research report on Wednesday, June 1st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $53.00 target price on shares of Coach in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average 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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