Buckingham Capital Management Inc Lowers stake in Coach Inc (COH)

Coach Inc (COH) : Buckingham Capital Management Inc reduced its stake in Coach Inc by 18.32% during the most recent quarter end. The investment management company now holds a total of 557,405 shares of Coach Inc which is valued at $22,452,273 after selling 125,000 shares in Coach Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Coach Inc makes up approximately 1.30% of Buckingham Capital Management Inc’s portfolio.

Coach Inc opened for trading at $40.28 and hit $40.69 on the upside on Friday, eventually ending the session at $40.28, with a gain of 0.73% or 0.29 points. The heightened volatility saw the trading volume jump to 35,33,139 shares. Company has a market cap of $11,186 M.

Other Hedge Funds, Including , Hartford Financial Management added COH to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $4,028.Carl Domino Inc reduced its stake in COH by selling 6,605 shares or 15.09% in the most recent quarter. The Hedge Fund company now holds 37,155 shares of COH which is valued at $1,496,603. Coach Inc makes up approx 1.34% of Carl Domino Inc’s portfolio. Benjamin F. Edwards Company sold out all of its stake in COH during the most recent quarter. The investment firm sold 143 shares of COH which is valued $5,574.Dnb Asset Management As boosted its stake in COH in the latest quarter, The investment management firm added 24,600 additional shares and now holds a total of 35,943 shares of Coach Inc which is valued at $1,401,058. Coach Inc makes up approx 0.03% of Dnb Asset Management As’s portfolio.

On the company’s financial health, Coach Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.41. The company had revenue of $1033.00 million for the quarter, compared to analysts expectations of $1023.14 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Coach Inc. Company shares were Reiterated by Mizuho on Apr 22, 2016 to “Neutral”, Firm has raised the Price Target to $ 40 from a previous price target of $34 .Company shares were Reiterated by Wolfe Research on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $41 .Company shares were Reiterated by UBS on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

Coach Inc. (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China Coach-operated stores and concession shop-in-shops in Hong Kong Macau Singapore Taiwan Malaysia South Korea the United Kingdom France Ireland Spain Portugal Germany Italy Belgium and the Netherlands as well as sales to wholesale customers and distributors in approximately 45 countries and Other segment which consists of sales and expenses generated by the Coach brand in other ancillary channels including licensing and disposition. Its product offerings include watches footwear scarves and jewelry.

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