Franklin Resources Inc. Has $2,286,000 Holding in Coach Inc (COH)

Franklin Resources Inc. Has $2,286,000 Holding in Coach Inc (COH)

Franklin Resources Inc. boosted its position in Coach Inc (NYSE:COH) by 451.7% during the fourth quarter, Holdings Channel reports. The fund owned 65,281 shares of the luxury accessories retailer’s stock after buying an additional 53,449 shares during the period. Franklin Resources Inc.’s holdings in Coach were worth $2,286,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Coach by 41.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 19,168,573 shares of the luxury accessories retailer’s stock worth $700,803,000 after buying an additional 5,590,193 shares during the last quarter. American International Group Inc. increased its stake in Coach by 4.7% in the third quarter. American International Group Inc. now owns 12,843,137 shares of the luxury accessories retailer’s stock worth $469,545,000 after buying an additional 581,951 shares during the last quarter. State Street Corp increased its stake in Coach by 5.6% in the fourth quarter. State Street Corp now owns 11,931,614 shares of the luxury accessories retailer’s stock worth $417,861,000 after buying an additional 633,511 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Coach by 30.8% in the third quarter. Ameriprise Financial Inc. now owns 7,989,708 shares of the luxury accessories retailer’s stock worth $292,112,000 after buying an additional 1,882,572 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Coach by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,239,882 shares of the luxury accessories retailer’s stock worth $264,690,000 after buying an additional 57,754 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of Coach Inc (NYSE:COH) opened at 39.15 on Tuesday. Coach Inc has a one year low of $34.07 and a one year high of $43.71. The stock has a market capitalization of $10.99 billion, a PE ratio of 21.49 and a beta of 0.49. The firm has a 50 day moving average price of $38.07 and a 200 day moving average price of $36.81.

Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, January 31st. The luxury accessories retailer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Coach had a return on equity of 21.66% and a net margin of 11.24%. The firm earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that Coach Inc will post $2.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.45%. Coach’s dividend payout ratio is presently 74.18%.

A number of analysts have issued reports on COH shares. Vetr downgraded Coach from a “buy” rating to a “hold” rating and set a $39.45 price objective on the stock. in a research note on Wednesday, December 7th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, January 3rd. William Blair reaffirmed an “outperform” rating on shares of Coach in a research note on Wednesday, February 1st. Royal Bank of Canada set a $42.00 price objective on Coach and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Finally, Goldman Sachs Group Inc raised Coach from a “sell” rating to a “neutral” rating and set a $36.00 price objective on the stock in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.07.

In related news, Director Annabelle Yu Long sold 2,310 shares of the stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $35.12, for a total value of $81,127.20. Following the completion of the sale, the director now owns 2,020 shares of the company’s stock, valued at $70,942.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by company 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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