Northwestern Mutual Wealth Management Co. cut its stake in shares of Coach, Inc. (NYSE:COH) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,714 shares of the luxury accessories retailer’s stock after selling 166 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Coach were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Skba Capital Management LLC grew its position in shares of Coach by 24.8% during the second quarter. Skba Capital Management LLC now owns 213,900 shares of the luxury accessories retailer’s stock worth $10,126,000 after buying an additional 42,500 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in Coach by 3.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 344,197 shares of the luxury accessories retailer’s stock valued at $16,295,000 after purchasing an additional 10,764 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Coach by 139.9% in the second quarter. Systematic Financial Management LP now owns 5,300 shares of the luxury accessories retailer’s stock valued at $251,000 after purchasing an additional 3,091 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Coach by 1,921.6% in the second quarter. Franklin Resources Inc. now owns 1,483,000 shares of the luxury accessories retailer’s stock valued at $70,205,000 after purchasing an additional 1,409,643 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in Coach by 8.9% in the second quarter. Freestone Capital Holdings LLC now owns 108,195 shares of the luxury accessories retailer’s stock valued at $5,122,000 after purchasing an additional 8,822 shares in the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the company. UBS AG reaffirmed a “buy” rating and issued a $55.00 price target (up from $49.00) on shares of Coach in a report on Thursday, May 25th. BMO Capital Markets set a $42.00 price target on Coach and gave the company a “hold” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $48.00 price target (down from $52.00) on shares of Coach in a report on Wednesday, August 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $56.00 price target (down from $59.00) on shares of Coach in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $48.03.

In other Coach news, SVP Melinda Brown sold 8,250 shares of Coach stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the sale, the chief accounting officer now directly owns 72,412 shares in the company, 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.

Coach, Inc. (NYSE:COH) opened at 41.40 on Friday. The stock has a market cap of $11.70 billion, a PE ratio of 19.81 and a beta of 0.44. The firm has a 50-day moving average price of $43.35 and a 200 day moving average price of $43.43. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85.

Coach (NYSE:COH) last announced its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion for 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%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Equities analysts anticipate that Coach, Inc. will post $2.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, September 7th. Coach’s payout ratio is currently 64.59%.

TRADEMARK VIOLATION NOTICE: “Northwestern Mutual Wealth Management Co. Has $365,000 Stake in Coach, Inc. (COH)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/09/17/northwestern-mutual-wealth-management-co-has-365000-stake-in-coach-inc-coh.html.

Coach 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.

Institutional Ownership by Quarter for Coach (NYSE:COH)

Receive News & Ratings for Coach Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coach Inc. and related companies with MarketBeat.com's FREE daily email newsletter.