Morse Asset Management Inc Has $3.74 Million Stake in Coach, Inc. (COH)

Morse Asset Management Inc raised its position in shares of Coach, Inc. (NYSE:COH) by 122.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,945 shares of the luxury accessories retailer’s stock after buying an additional 43,405 shares during the period. Coach comprises 1.2% of Morse Asset Management Inc’s investment portfolio, making the stock its 27th largest position. Morse Asset Management Inc’s holdings in Coach were worth $3,737,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COH. Tompkins Financial Corp purchased a new stake in shares of Coach during the first quarter worth about $120,000. Winslow Evans & Crocker Inc. raised its stake in shares of Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Coach during the first quarter worth about $153,000. NEXT Financial Group Inc raised its stake in shares of Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock worth $199,000 after buying an additional 200 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Coach during the first quarter worth about $201,000. Institutional investors and hedge funds own 88.44% of the company’s stock.

Shares of Coach, Inc. (NYSE:COH) traded down 1.51% during midday trading on Friday, reaching $40.38. The company’s stock had a trading volume of 3,770,007 shares. The firm’s 50 day moving average is $46.81 and its 200 day moving average is $42.95. Coach, Inc. has a 52 week low of $34.07 and a 52 week high of $48.85. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 19.32 and a beta of 0.45.

Coach (NYSE:COH) last issued its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts forecast that Coach, Inc. will post $2.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.34%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio (DPR) is presently 64.59%.

COH has been the topic of a number of research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $47.00 price target on shares of Coach in a research note on Monday, May 8th. Nomura reaffirmed a “buy” rating and issued a $45.00 price target on shares of Coach in a research note on Wednesday, May 3rd. Vetr lowered Coach from a “strong-buy” rating to a “buy” rating and set a $46.00 price target on the stock. in a research note on Tuesday, May 2nd. UBS AG reaffirmed a “buy” rating and issued a $47.00 price target on shares of Coach in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Coach in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.92.

In other Coach news, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction dated 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 directly owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $46.06, for a total value of $137,627.28. Following the completion of the transaction, the insider now directly owns 43,198 shares in the company, valued at $1,989,699.88. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

About Coach

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.