Pictet Asset Management Ltd. cut its position in shares of Coach, Inc. (NYSE:COH) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,036,129 shares of the luxury accessories retailer’s stock after selling 17,327 shares during the period. Pictet Asset Management Ltd.’s holdings in Coach were worth $47,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COH. TD Asset Management Inc. raised its position in shares of Coach by 2.3% in the second quarter. TD Asset Management Inc. now owns 573,082 shares of the luxury accessories retailer’s stock worth $27,130,000 after buying an additional 13,143 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Coach by 0.5% in the second quarter. Retirement Systems of Alabama now owns 136,306 shares of the luxury accessories retailer’s stock worth $6,453,000 after buying an additional 662 shares in the last quarter. IFP Advisors Inc raised its position in shares of Coach by 1.1% in the second quarter. IFP Advisors Inc now owns 32,976 shares of the luxury accessories retailer’s stock worth $1,561,000 after buying an additional 373 shares in the last quarter. Korea Investment CORP raised its position in shares of Coach by 387.2% in the second quarter. Korea Investment CORP now owns 199,601 shares of the luxury accessories retailer’s stock worth $9,449,000 after buying an additional 158,631 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Coach by 43.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 123,460 shares of the luxury accessories retailer’s stock worth $5,845,000 after buying an additional 37,200 shares in the last quarter. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

Coach, Inc. (NYSE COH) opened at 47.83 on Wednesday. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85. The company has a market capitalization of $13.45 billion, a P/E ratio of 25.83 and a beta of 0.45. The stock’s 50 day moving average price is $47.33 and its 200-day moving average price is $42.30.

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A number of research analysts have commented on the company. BMO Capital Markets set a $42.00 price objective on Coach and gave the company a “hold” rating in a report on Tuesday. Vetr lowered Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective on the stock. in a report on Monday. Jefferies Group LLC lowered Coach from a “buy” rating to a “hold” rating and decreased their price objective for the company from $53.00 to $45.00 in a report on Monday, July 31st. OTR Global raised Coach to a “positive” rating in a report on Friday, July 21st. Finally, MKM Partners assumed coverage on Coach in a report on Monday, July 10th. They issued a “buy” rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $48.11.

In other news, insider Sarah Dunn sold 7,595 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total value of $349,901.65. Following the completion of the transaction, the insider now directly owns 74,627 shares in the company, valued at approximately $3,438,065.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andre Cohen sold 2,988 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the completion of the transaction, the insider now owns 43,198 shares of the company’s stock, valued at $1,989,699.88. The disclosure for this sale can be found here. Insiders sold a total of 20,670 shares of company stock valued at $944,974 over the last quarter. Company insiders own 0.81% of the company’s stock.

Coach Company Profile

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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Institutional Ownership by Quarter for Coach (NYSE:COH)

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