IFP Advisors Inc Acquires 373 Shares of Coach, Inc. (NYSE:COH)
IFP Advisors Inc raised its stake in Coach, Inc. (NYSE:COH) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 32,976 shares of the luxury accessories retailer’s stock after buying an additional 373 shares during the period. IFP Advisors Inc’s holdings in Coach were worth $1,561,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of COH. Winslow Evans & Crocker Inc. increased its position in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after buying an additional 400 shares during the last quarter. Tompkins Financial Corp acquired a new position in Coach during the first quarter valued at $120,000. NINE MASTS CAPITAL Ltd acquired a new position in Coach during the first quarter valued at $153,000. NEXT Financial Group Inc increased its position in Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock valued at $199,000 after buying an additional 200 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Coach during the second quarter valued at $206,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.
Shares of Coach, Inc. (NYSE COH) opened at 47.57 on Tuesday. Coach, Inc. has a 12-month low of $34.07 and a 12-month high of $48.85. The company’s 50-day moving average is $47.31 and its 200-day moving average is $42.21. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 25.69 and a beta of 0.45.
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COH has been the subject of several recent analyst reports. UBS AG reaffirmed a “buy” rating and set a $47.00 price objective on shares of Coach in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised shares of Coach to a “buy” rating in a research note on Saturday, July 1st. Vetr raised shares of Coach from a “sell” rating to a “hold” rating and set a $45.98 price objective for the company in a research note on Monday, July 31st. Piper Jaffray Companies set a $47.00 price objective on shares of Coach and gave the company a “buy” rating in a research note on Wednesday, May 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the stock. Coach currently has an average rating of “Buy” and a consensus target price of $48.11.
In other Coach news, insider Andre Cohen sold 10,087 shares of Coach stock in a transaction on Friday, May 12th. The shares were sold at an average price of $45.35, for a total transaction of $457,445.45. Following the completion of the transaction, the insider now directly owns 46,186 shares of the company’s stock, valued at $2,094,535.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Kahn sold 19,450 shares of Coach stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total transaction of $884,002.50. Following the transaction, the chief accounting officer now directly owns 98,343 shares of the company’s stock, valued at $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 over the last ninety days. 0.81% of the stock is owned by 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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