Blackhill Capital Inc. continued to hold its position in shares of Coach, Inc. (NYSE:COH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,000 shares of the luxury accessories retailer’s stock at the end of the second quarter. Coach comprises 0.6% of Blackhill Capital Inc.’s portfolio, making the stock its 26th largest position. Blackhill Capital Inc.’s holdings in Coach were worth $3,030,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in COH. Cleararc Capital Inc. boosted its position in Coach by 0.5% in the first quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock worth $283,000 after buying an additional 34 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Coach by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock worth $451,000 after buying an additional 47 shares during the last quarter. Benedict Financial Advisors Inc. boosted its position in Coach by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 8,403 shares of the luxury accessories retailer’s stock worth $347,000 after buying an additional 49 shares during the last quarter. LS Investment Advisors LLC boosted its position in Coach by 0.5% in the second quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock worth $487,000 after buying an additional 53 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Coach by 0.9% in the first quarter. Blair William & Co. IL now owns 8,483 shares of the luxury accessories retailer’s stock worth $331,000 after buying an additional 75 shares during the last quarter. 88.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of Coach, Inc. (NYSE:COH) opened at 47.83 on Wednesday. Coach, Inc. has a one year low of $34.07 and a one year high of $48.85. The firm has a 50 day moving average price of $47.33 and a 200 day moving average price of $42.30. The stock has a market capitalization of $13.45 billion, a PE ratio of 25.83 and a beta of 0.45.
A number of research analysts have recently weighed in on the company. BMO Capital Markets set a $42.00 price objective on Coach and gave the company a “hold” rating in a research report on Tuesday. Vetr downgraded Coach from a “hold” rating to a “sell” rating and set a $45.98 target price on the stock. in a research note on Monday. Jefferies Group LLC downgraded Coach from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global raised Coach to a “positive” rating in a research note on Friday, July 21st. Finally, MKM Partners started coverage on Coach in a research note on Monday, July 10th. They set a “buy” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.11.
In other news, insider Andre Cohen sold 10,087 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $45.35, for a total transaction of $457,445.45. Following the completion of the transaction, the insider now directly owns 46,186 shares in the company, valued at $2,094,535.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total value of $349,901.65. Following the transaction, the insider now owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,670 shares of company stock valued at $944,974. 0.81% of the stock is owned by 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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