Coach Inc. (COH) Stake Raised by Retirement Systems of Alabama
Retirement Systems of Alabama increased its position in shares of Coach Inc. (NYSE:COH) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,742 shares of the luxury accessories retailer’s stock after buying an additional 1,420 shares during the period. Retirement Systems of Alabama’s holdings in Coach were worth $5,775,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position 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 worth $90,829,000 after buying an additional 56,634 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Coach during the first quarter worth about $917,000. Legal & General Group Plc increased its position in shares of Coach by 2.7% in the first quarter. Legal & General Group Plc now owns 1,267,087 shares of the luxury accessories retailer’s stock worth $50,799,000 after buying an additional 33,163 shares in the last quarter. Greylin Investment Mangement Inc. increased its position in shares of Coach by 5.2% in the second quarter. Greylin Investment Mangement Inc. now owns 737,030 shares of the luxury accessories retailer’s stock worth $30,027,000 after buying an additional 36,430 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Coach by 1.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 414,659 shares of the luxury accessories retailer’s stock worth $16,624,000 after buying an additional 4,159 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
Shares of Coach Inc. (NYSE:COH) traded up 0.77% during midday trading on Wednesday, reaching $36.53. 2,309,974 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $37.09 and its 200 day moving average price is $39.37. Coach Inc. has a 52-week low of $28.70 and a 52-week high of $43.71. The firm has a market capitalization of $10.19 billion, a P/E ratio of 22.14 and a beta of 0.90.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. Coach’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. On average, equities research analysts anticipate that Coach Inc. will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.3375 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.70%. Coach’s payout ratio is 81.82%.
A number of equities analysts have recently issued reports on COH shares. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $46.00 price target on shares of Coach in a report on Tuesday, August 30th. Jefferies Group reissued a “buy” rating on shares of Coach in a research note on Friday, September 2nd. Credit Agricole SA assumed coverage on shares of Coach in a research note on Wednesday, September 28th. They issued a “buy” rating and a $45.00 price objective on the stock. Cowen and Company reissued an “outperform” rating on shares of Coach in a research note on Tuesday, August 23rd. Finally, TheStreet cut shares of Coach from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Coach has a consensus rating of “Hold” and an average price target of $42.13.
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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