Flippin Bruce & Porter Inc. boosted its position in shares of Coach, Inc. (NYSE:COH) by 1.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 193,410 shares of the luxury accessories retailer’s stock after buying an additional 3,407 shares during the period. Coach makes up about 2.1% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 12th largest position. Flippin Bruce & Porter Inc. owned 0.07% of Coach worth $9,156,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Coach by 3,072.2% in the first quarter. BlackRock Inc. now owns 17,674,190 shares of the luxury accessories retailer’s stock worth $730,475,000 after buying an additional 17,117,023 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Coach by 19.9% in the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Coach by 5.5% in the first quarter. Vanguard Group Inc. now owns 27,983,084 shares of the luxury accessories retailer’s stock worth $1,156,541,000 after buying an additional 1,464,098 shares during the last quarter. RidgeWorth Capital Management LLC purchased a new stake in shares of Coach during the first quarter worth about $45,659,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Coach by 1,335.1% in the first quarter. OppenheimerFunds Inc. now owns 979,553 shares of the luxury accessories retailer’s stock worth $40,485,000 after buying an additional 911,298 shares during the last quarter. 86.34% of the stock is currently owned by institutional investors.
Shares of Coach, Inc. (COH) traded down 0.36% during trading on Monday, reaching $41.73. 392,858 shares of the company were exchanged. The stock has a market capitalization of $11.79 billion, a PE ratio of 19.97 and a beta of 0.45. The stock has a 50-day moving average price of $45.99 and a 200-day moving average price of $43.10. Coach, Inc. has a one year low of $34.07 and a one year high of $48.85.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that Coach, Inc. will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, September 7th. Coach’s dividend payout ratio is currently 64.59%.
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COH has been the topic of several research analyst reports. Instinet reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Coach in a report on Wednesday, May 3rd. OTR Global raised shares of Coach to a “positive” rating in a report on Friday, July 21st. Buckingham Research raised shares of Coach from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.00 to $58.00 in a report on Monday, June 26th. BMO Capital Markets set a $42.00 price target on shares of Coach and gave the company a “hold” rating in a report on Thursday, July 6th. Finally, Cowen and Company reissued an “outperform” rating and issued a $49.00 price target (up from $40.00) on shares of Coach in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the stock. Coach presently has a consensus rating of “Buy” and an average price target of $47.92.
In other news, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were 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 of the company’s stock, valued at $2,958,030.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently 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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