Bessemer Group Inc. Purchases 991 Shares of Coach, Inc. (COH)
Bessemer Group Inc. boosted its stake in shares of Coach, Inc. (NYSE:COH) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,496 shares of the luxury accessories retailer’s stock after buying an additional 991 shares during the period. Bessemer Group Inc.’s holdings in Coach were worth $734,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Tompkins Financial Corp purchased a new position in shares of Coach during the first quarter valued at about $120,000. Winslow Evans & Crocker Inc. boosted 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 valued at $124,000 after buying an additional 400 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in shares of Coach during the first quarter valued at about $153,000. NEXT Financial Group Inc boosted 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 valued at $199,000 after buying an additional 200 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of Coach during the first quarter valued at about $201,000. 88.44% of the stock is currently owned by institutional investors.
Coach, Inc. (NYSE:COH) opened at 40.72 on Thursday. The stock’s 50 day moving average is $47.17 and its 200 day moving average is $42.94. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 21.99 and a beta of 0.45. Coach, Inc. has a one year low of $34.07 and a one year high of $48.85. Coach also was the target of some unusual options trading on Monday. Investors purchased 8,123 put options on the stock. This represents an increase of 566% compared to the typical volume of 1,219 put options.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, equities analysts forecast that Coach, Inc. will post $2.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.32%. Coach’s dividend payout ratio is 64.59%.
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Several equities analysts have issued reports on the stock. UBS AG reissued a “buy” rating and issued a $55.00 price objective (up from $49.00) on shares of Coach in a research note on Thursday, May 25th. OTR Global raised shares of Coach to a “positive” rating in a research note on Friday, July 21st. Deutsche Bank AG reissued a “hold” rating and issued a $40.00 price objective (up from $39.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies upped their price target on shares of Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.92.
In related news, insider Sarah Dunn sold 7,595 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 74,627 shares in the company, valued at approximately $3,438,065.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andre Cohen sold 2,988 shares of the business’s stock in a transaction that occurred on 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 sale, 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. 0.81% of the stock is owned by insiders.
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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