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

Coach Inc (COH) : Buckingham Capital Management Inc reduced its stake in Coach Inc by 5.0% during the most recent quarter end. The investment management company now holds a total of 529,522 shares of Coach Inc which is valued at $20,826,100 after selling 27,883 shares in Coach Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Coach Inc makes up approximately 1.13% of Buckingham Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in COH in the latest quarter, The investment management firm added 778,882 additional shares and now holds a total of 24,943,401 shares of Coach Inc which is valued at $981,023,961. Coach Inc makes up approx 0.06% of Vanguard Group Inc’s portfolio.Salient Capital Advisors boosted its stake in COH in the latest quarter, The investment management firm added 10,266 additional shares and now holds a total of 81,711 shares of Coach Inc which is valued at $3,434,313. Coach Inc makes up approx 0.08% of Salient Capital Advisors’s portfolio. Harel Insurance Investments Financial Services Ltd. added COH to its portfolio by purchasing 450 company shares during the most recent quarter which is valued at $18,788.Callahan Advisors reduced its stake in COH by selling 3,000 shares or 19.87% in the most recent quarter. The Hedge Fund company now holds 12,100 shares of COH which is valued at $521,510. Coach Inc makes up approx 0.13% of Callahan Advisors’s portfolio.New York State Teachers Retirement System boosted its stake in COH in the latest quarter, The investment management firm added 32 additional shares and now holds a total of 456,395 shares of Coach Inc which is valued at $19,593,037. Coach Inc makes up approx 0.05% of New York State Teachers Retirement System’s portfolio.

Coach Inc opened for trading at $39.47 and hit $40.4 on the upside on Friday, eventually ending the session at $40.31, with a gain of 2.15% or 0.85 points. The heightened volatility saw the trading volume jump to 48,48,747 shares. Company has a market cap of $11,207 M.

On the company’s financial health, Coach Inc reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.41. The company had revenue of $1155.00 million for the quarter, compared to analysts expectations of $1166.12 million. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Investors should note that on Aug 9, 2016, Coach Inc announced a cash dividend of $0.3375. The company’s management has announced Sep 8, 2016 as the ex-dividend date and fixed the record date on Sep 12, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Coach Inc. Coach Inc was Upgraded by BofA/Merrill to ” Neutral” on Aug 10, 2016. Coach Inc was Upgraded by Credit Suisse to ” Outperform” on Jul 27, 2016. Company shares were Upgraded by Robert W. Baird on Jul 18, 2016 to ” Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $45 .

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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