P.R. Herzig & Co. Inc. Has $2.30 Million Position in Coach, Inc. (NYSE:COH)
P.R. Herzig & Co. Inc. decreased its position in shares of Coach, Inc. (NYSE:COH) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 48,633 shares of the luxury accessories retailer’s stock after selling 4,700 shares during the period. Coach comprises approximately 4.5% of P.R. Herzig & Co. Inc.’s holdings, making the stock its 4th largest position. P.R. Herzig & Co. Inc.’s holdings in Coach were worth $2,302,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Ibex Wealth Advisors acquired a new position in shares of Coach during the fourth quarter worth $102,000. Tompkins Financial Corp acquired a new position in shares of Coach during the first quarter worth $120,000. Winslow Evans & Crocker Inc. increased its position in shares of Coach by 18.1% in the second 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 in the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in shares of Coach during the first quarter worth $153,000. Finally, NEXT Financial Group Inc increased its position in shares of Coach by 5.0% in the second 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 in the last quarter. 88.15% of the stock is owned by institutional investors.
Shares of Coach, Inc. (NYSE:COH) traded down 0.25% during trading on Tuesday, reaching $47.82. The company’s stock had a trading volume of 90,071 shares. The firm has a market cap of $13.44 billion, a PE ratio of 25.82 and a beta of 0.45. The company’s 50 day moving average price is $46.15 and its 200 day moving average price is $40.23. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.12.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Coach had a return on equity of 21.36% and a net margin of 11.55%. The business had revenue of $995.20 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted $0.44 earnings per share. Coach’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities analysts predict that Coach, Inc. will post $2.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.82%. The ex-dividend date was Wednesday, June 7th. Coach’s dividend payout ratio is 72.97%.
COH has been the topic of a number of research reports. Instinet reiterated a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of Coach in a report on Wednesday, May 3rd. Vetr upgraded Coach from a “hold” rating to a “buy” rating and set a $41.20 target price on the stock in a report on Monday, March 20th. Deutsche Bank AG dropped their target price on Coach from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Tuesday, April 25th. Piper Jaffray Companies set a $43.00 target price on Coach and gave the company a “buy” rating in a report on Wednesday, April 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 target price on shares of Coach in a report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Coach currently has a consensus rating of “Buy” and an average target price of $48.44.
In related news, Director Susan J. Kropf sold 4,239 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.99, for a total value of $194,951.61. Following the sale, the director now owns 36,948 shares in the company, valued at approximately $1,699,238.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Kahn sold 19,450 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total value of $884,002.50. Following the completion of the sale, the chief accounting officer now owns 98,343 shares in the company, valued at approximately $4,469,689.35. The disclosure for this sale can be found here. Insiders have sold 44,359 shares of company stock valued at $2,023,928 in the last three months. 0.81% of the stock is owned by corporate insiders.
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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