Coach, Inc. (COH) Stake Lessened by Centre Asset Management LLC

Centre Asset Management LLC lowered its position in shares of Coach, Inc. (NYSE:COH) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,980 shares of the luxury accessories retailer’s stock after selling 2,260 shares during the quarter. Coach accounts for about 2.1% of Centre Asset Management LLC’s holdings, making the stock its 23rd largest position. Centre Asset Management LLC owned approximately 0.07% of Coach worth $7,934,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Coach by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 427,566 shares of the luxury accessories retailer’s stock valued at $17,672,000 after buying an additional 6,192 shares during the period. Wellington Management Group LLP increased its stake in Coach by 59.9% in the 1st quarter. Wellington Management Group LLP now owns 160,458 shares of the luxury accessories retailer’s stock valued at $6,632,000 after buying an additional 60,104 shares during the period. Teachers Advisors LLC increased its stake in Coach by 48.9% in the 1st quarter. Teachers Advisors LLC now owns 511,865 shares of the luxury accessories retailer’s stock valued at $21,155,000 after buying an additional 168,177 shares during the period. Thrivent Financial For Lutherans increased its stake in Coach by 6.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,350 shares of the luxury accessories retailer’s stock valued at $428,000 after buying an additional 610 shares during the period. Finally, Global X Management Co. LLC increased its stake in Coach by 11.5% in the 1st quarter. Global X Management Co. LLC now owns 7,156 shares of the luxury accessories retailer’s stock valued at $296,000 after buying an additional 737 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

Shares of Coach, Inc. (NYSE COH) traded down 0.08% during trading on Wednesday, hitting $39.61. 535,417 shares of the stock were exchanged. Coach, Inc. has a 1-year low of $34.07 and a 1-year high of $48.85. The company has a market cap of $11.19 billion, a P/E ratio of 18.95 and a beta of 0.44. The firm’s 50-day moving average is $40.48 and its 200 day moving average is $43.61.

Coach (NYSE:COH) last announced 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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. Coach’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Coach, Inc. will post $2.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.3375 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.41%. Coach’s payout ratio is presently 64.59%.

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Several research firms have weighed in on COH. BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the company a “hold” rating in a research note on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a “buy” rating in a research note on Saturday, July 1st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Coach in a research note on Wednesday, August 16th. Canaccord Genuity reiterated a “buy” rating and issued a $56.00 price objective (down previously from $59.00) on shares of Coach in a research note on Wednesday, August 16th. Finally, KeyCorp set a $53.00 price objective on shares of Coach and gave the company a “buy” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Coach has an average rating of “Buy” and an average price target of $47.17.

In other news, SVP Melinda Brown sold 8,250 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction dated 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 approximately $2,958,030.20. The disclosure for this sale can be found here. Insiders own 0.98% 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.

Institutional Ownership by Quarter for Coach (NYSE:COH)

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