Cambridge Investment Research Advisors Inc. Has $420,000 Stake in Coach, Inc. (COH)
Cambridge Investment Research Advisors Inc. lowered its stake in Coach, Inc. (NYSE:COH) by 18.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,879 shares of the luxury accessories retailer’s stock after selling 2,030 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Coach were worth $420,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COH. Dupont Capital Management Corp purchased a new position in shares of Coach in the second quarter worth about $118,000. Winslow Evans & Crocker Inc. increased its holdings 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 during the period. NINE MASTS CAPITAL Ltd purchased a new position in shares of Coach in the first quarter worth about $153,000. NEXT Financial Group Inc increased its holdings 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 during the period. Finally, Wedbush Securities Inc. purchased a new position in shares of Coach in the first quarter worth about $204,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.
In other news, CAO Todd Kahn sold 4,586 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now directly owns 72,412 shares in the company, valued at $2,958,030.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by company insiders.
Coach, Inc. (NYSE:COH) opened at 42.10 on Thursday. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 20.14 and a beta of 0.44. Coach, Inc. has a one year low of $34.07 and a one year high of $48.85. The company has a 50-day moving average of $43.90 and a 200-day moving average of $43.44.
Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Coach, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.21%. Coach’s dividend payout ratio is presently 64.59%.
Several research firms recently issued reports on COH. Royal Bank Of Canada reissued an “outperform” rating and issued a $50.00 target price (up from $45.00) on shares of Coach in a research note on Thursday, June 15th. UBS AG cut their target price on Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Nomura set a $53.00 target price on Coach and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Vetr raised Coach from a “sell” rating to a “hold” rating and set a $45.98 target price on the stock in a research note on Monday, August 14th. Finally, Buckingham Research reissued a “buy” rating and issued a $56.00 target price (down from $58.00) on shares of Coach in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Coach has a consensus rating of “Buy” and an average price target of $48.03.
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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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