Coach, Inc. (COH) Holdings Trimmed by Quantum Capital Management
Quantum Capital Management decreased its position in Coach, Inc. (NYSE:COH) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,235 shares of the luxury accessories retailer’s stock after selling 1,082 shares during the period. Quantum Capital Management’s holdings in Coach were worth $1,763,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Airain ltd purchased a new position in Coach in the second quarter valued at $1,036,000. JPMorgan Chase & Co. increased its holdings in Coach by 294.3% in 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 buying an additional 908,228 shares in the last quarter. Capital Analysts LLC purchased a new position in Coach in the second quarter valued at $1,062,000. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in Coach in the second quarter valued at $1,386,000. Finally, Neuberger Berman Group LLC increased its holdings in Coach by 128.0% in the second quarter. Neuberger Berman Group LLC now owns 206,741 shares of the luxury accessories retailer’s stock valued at $9,787,000 after buying an additional 116,072 shares in the last quarter. 86.32% of the stock is owned by institutional investors.
Coach (NYSE:COH) last released its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.3375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.42%. Coach’s dividend payout ratio is presently 64.59%.
In related news, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares in the company, valued at $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
COH has been the subject of a number of research reports. UBS AG reissued a “buy” rating and set a $55.00 target price (up previously 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. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Piper Jaffray Companies boosted their target price 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. Finally, BMO Capital Markets set a $42.00 target price on shares of Coach and gave the stock a “hold” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.92.
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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