Jupiter Asset Management Ltd. Reduced Holding in Coach Inc (COH)

Jupiter Asset Management Ltd. Reduced Holding in Coach Inc (COH)

Jupiter Asset Management Ltd. cut its position in Coach Inc (NYSE:COH) by 4.4% during the first quarter, Holdings Channel reports. The institutional investor owned 2,493,698 shares of the luxury accessories retailer’s stock after selling 114,902 shares during the period. Coach makes up 3.8% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 3rd largest position. Jupiter Asset Management Ltd.’s holdings in Coach were worth $103,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COH. Clifford Swan Investment Counsel LLC boosted its position in shares of Coach by 1.0% in the third quarter. Clifford Swan Investment Counsel LLC now owns 367,785 shares of the luxury accessories retailer’s stock worth $13,446,000 after buying an additional 3,585 shares in the last quarter. Dodge & Cox acquired a new position in shares of Coach during the fourth quarter worth about $532,034,000. Flinton Capital Management LLC acquired a new position in shares of Coach during the fourth quarter worth about $1,455,000. Tyvor Capital LLC boosted its position in shares of Coach by 163.9% in the fourth quarter. Tyvor Capital LLC now owns 527,768 shares of the luxury accessories retailer’s stock worth $18,482,000 after buying an additional 327,768 shares in the last quarter. Finally, Aviva PLC boosted its position in shares of Coach by 6.2% in the fourth quarter. Aviva PLC now owns 183,035 shares of the luxury accessories retailer’s stock worth $6,412,000 after buying an additional 10,635 shares in the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Coach Inc (NYSE COH) traded down 0.35% on Friday, hitting $46.00. 2,362,463 shares of the stock were exchanged. The company has a 50 day moving average of $43.10 and a 200 day moving average of $38.97. Coach Inc has a 52-week low of $34.07 and a 52-week high of $46.78. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 24.84 and a beta of 0.49.

Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Coach had a return on equity of 21.66% and a net margin of 11.24%. The company had revenue of $995.20 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Equities research analysts forecast that Coach Inc will post $2.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 9th will be paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Wednesday, June 7th. Coach’s payout ratio is 74.18%.

Several brokerages have commented on COH. Wedbush restated a “neutral” rating and issued a $38.00 price target on shares of Coach in a research note on Tuesday, March 21st. Wells Fargo & Co reiterated an “outperform” rating and set a $47.00 price objective on shares of Coach in a research note on Wednesday, March 8th. Goldman Sachs Group Inc upgraded shares of 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. Piper Jaffray Companies set a $43.00 price target on shares of Coach and gave the stock a “buy” rating in a research report on Monday, March 20th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $42.00 price target on shares of Coach in a research report on Monday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $46.56.

In related 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 value of $457,445.45. Following the completion of the sale, the insider now owns 46,186 shares of the company’s stock, valued at $2,094,535.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. Insiders sold 44,359 shares of company stock valued at $2,023,928 in the last ninety days. 0.81% of the stock is currently owned by insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “COH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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