Trust Co. of Virginia VA Continues to Hold Holdings in Coach, Inc. (COH)

Trust Co. of Virginia VA maintained its stake in Coach, Inc. (NYSE:COH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,457 shares of the luxury accessories retailer’s stock at the close of the second quarter. Trust Co. of Virginia VA’s holdings in Coach were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in COH. BNP Paribas Arbitrage SA grew its position in Coach by 43.6% during the first quarter. BNP Paribas Arbitrage SA now owns 357,859 shares of the luxury accessories retailer’s stock valued at $14,790,000 after purchasing an additional 108,640 shares in the last quarter. LS Investment Advisors LLC grew its position in Coach by 12.9% during the first quarter. LS Investment Advisors LLC now owns 10,237 shares of the luxury accessories retailer’s stock valued at $423,000 after purchasing an additional 1,169 shares in the last quarter. Swiss National Bank grew its position in Coach by 29.2% during the first quarter. Swiss National Bank now owns 993,373 shares of the luxury accessories retailer’s stock valued at $41,056,000 after purchasing an additional 224,400 shares in the last quarter. Flossbach Von Storch AG grew its position in Coach by 6.6% during the first quarter. Flossbach Von Storch AG now owns 398,950 shares of the luxury accessories retailer’s stock valued at $16,489,000 after purchasing an additional 24,700 shares in the last quarter. Finally, World Asset Management Inc grew its position in Coach by 11.4% during the first quarter. World Asset Management Inc now owns 31,125 shares of the luxury accessories retailer’s stock valued at $1,286,000 after purchasing an additional 3,187 shares in the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently commented on COH. Robert W. Baird reaffirmed a “buy” rating and set a $52.00 price objective (down from $54.00) on shares of Coach in a research report on Friday, August 18th. Buckingham Research reaffirmed a “buy” rating and set a $56.00 price objective (down from $58.00) on shares of Coach in a research report on Friday, August 18th. UBS AG reduced their target price on shares of Coach from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 17th. Morgan Stanley lifted their target price on shares of Coach from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, August 16th. Finally, Instinet reiterated a “buy” rating and issued a $53.00 target price (down from $55.00) on shares of Coach in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.92.

In other news, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The stock was 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 owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by company insiders.

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Shares of Coach, Inc. (NYSE:COH) traded down 0.57% during midday trading on Friday, reaching $40.43. 4,482,587 shares of the company’s stock traded hands. Coach, Inc. has a 52-week low of $34.07 and a 52-week high of $48.85. The stock has a 50 day moving average of $44.33 and a 200-day moving average of $43.32. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 19.34 and a beta of 0.44.

Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Coach, Inc. will post $2.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio is currently 64.59%.

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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Institutional Ownership by Quarter for Coach (NYSE:COH)

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