Korea Investment CORP raised its stake in shares of Coach, Inc. (NYSE:COH) by 387.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,601 shares of the luxury accessories retailer’s stock after buying an additional 158,631 shares during the period. Korea Investment CORP’s holdings in Coach were worth $9,449,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in COH. Candriam Luxembourg S.C.A. raised its position in shares of Coach by 43.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 123,460 shares of the luxury accessories retailer’s stock valued at $5,845,000 after buying an additional 37,200 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Coach by 0.3% in the second quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock valued at $482,000 after buying an additional 32 shares in the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Coach by 1.0% in the second quarter. Benedict Financial Advisors Inc. now owns 8,484 shares of the luxury accessories retailer’s stock valued at $414,000 after buying an additional 81 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Coach during the second quarter valued at $13,555,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Coach during the second quarter valued at $1,420,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.
Coach, Inc. (NYSE:COH) opened at 47.83 on Wednesday. Coach, Inc. has a 1-year low of $34.07 and a 1-year high of $48.85. The firm has a market capitalization of $13.45 billion, a PE ratio of 25.83 and a beta of 0.45. The firm’s 50-day moving average price is $47.33 and its 200-day moving average price is $42.30.
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Several equities analysts recently weighed in on the company. Vetr lowered Coach from a “hold” rating to a “sell” rating and set a $45.98 price target for the company. in a research note on Monday. Jefferies Group LLC lowered Coach from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global upgraded Coach to a “positive” rating in a research note on Friday, July 21st. MKM Partners assumed coverage on Coach in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 price target for the company. Finally, BMO Capital Markets set a $42.00 price target on Coach and gave the company a “hold” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.11.
In other Coach news, insider Andre Cohen sold 10,087 shares of Coach stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $45.35, for a total value of $457,445.45. Following the completion of the sale, the insider now directly owns 46,186 shares of the company’s stock, valued at approximately $2,094,535.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sarah Dunn sold 7,595 shares of Coach stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total transaction of $349,901.65. Following the completion of the sale, the insider now directly owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The disclosure for this sale can be found here. Insiders sold a total of 20,670 shares of company stock valued at $944,974 over the last ninety days. 0.81% of the stock is owned by corporate insiders.
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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