Northwestern Mutual Investment Management Company LLC cut its stake in shares of Coach, Inc. (NYSE:COH) by 81.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,606 shares of the luxury accessories retailer’s stock after selling 46,118 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Coach were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Coach by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,886 shares of the luxury accessories retailer’s stock valued at $989,000 after purchasing an additional 70 shares in the last quarter. JPMorgan Chase & Co. grew its position in Coach by 294.3% during the second quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock valued at $57,607,000 after purchasing an additional 908,228 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Coach by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 630,401 shares of the luxury accessories retailer’s stock valued at $29,843,000 after purchasing an additional 12,403 shares in the last quarter. Todd Asset Management LLC grew its position in Coach by 667.3% during the second quarter. Todd Asset Management LLC now owns 300,998 shares of the luxury accessories retailer’s stock valued at $14,250,000 after purchasing an additional 261,769 shares in the last quarter. Finally, Sawtooth Solutions LLC grew its position in Coach by 12.0% during the second quarter. Sawtooth Solutions LLC now owns 7,636 shares of the luxury accessories retailer’s stock valued at $361,000 after purchasing an additional 821 shares in the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Melinda Brown sold 8,250 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the transaction, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

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COH has been the topic of a number of research analyst reports. Jefferies Group LLC set a $53.00 price objective on shares of Coach and gave the company a “buy” rating in a research report on Friday, May 19th. UBS AG reaffirmed a “buy” rating and set a $55.00 price objective (up from $49.00) on shares of Coach in a research report on Thursday, May 25th. Piper Jaffray Companies boosted their price objective on shares of Coach from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. BidaskClub raised shares of Coach from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Vetr raised shares of Coach from a “sell” rating to a “hold” rating and set a $46.00 price objective on the stock in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $48.03.

Shares of Coach, Inc. (NYSE:COH) opened at 41.65 on Friday. The company’s 50 day moving average is $43.53 and its 200-day moving average is $43.41. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85. The firm has a market cap of $11.77 billion, a PE ratio of 19.93 and a beta of 0.44.

Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. Coach’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities research analysts predict that Coach, Inc. will post $2.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio (DPR) is presently 64.59%.

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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