Zurich Insurance Group Ltd FI lowered its position in shares of Coach, Inc. (NYSE:COH) by 23.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,009 shares of the luxury accessories retailer’s stock after selling 14,252 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Coach were worth $2,178,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Coach during the second quarter valued at approximately $115,000. Dupont Capital Management Corp acquired a new position in shares of Coach during the second quarter valued at approximately $118,000. Winslow Evans & Crocker Inc. raised its holdings in shares of Coach by 18.1% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after acquiring an additional 400 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Coach during the second quarter valued at approximately $188,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Coach during the second quarter valued at approximately $192,000. 86.32% of the stock is owned by institutional investors and hedge funds.

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In other news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction 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 approximately $2,958,030.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Coach, Inc. (NYSE COH) opened at 39.83 on Friday. The stock’s 50 day moving average price is $40.72 and its 200 day moving average price is $43.56. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 19.06 and a beta of 0.44. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85.

Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, analysts forecast that Coach, Inc. will post $2.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.39%. Coach’s payout ratio is 64.59%.

COH has been the subject of a number of research analyst reports. Vetr cut Coach from a “hold” rating to a “sell” rating and set a $45.98 target price for the company. in a report on Monday, August 7th. UBS AG reduced their target price on Coach from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Canaccord Genuity initiated coverage on Coach in a report on Friday, June 30th. They set a “buy” rating and a $59.00 target price for the company. MKM Partners initiated coverage on Coach in a report on Monday, July 10th. They set a “buy” rating and a $50.00 target price for the company. Finally, Cowen and Company reissued a “buy” rating and set a $46.00 target price on shares of Coach in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.06.

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)

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