Taylor Frigon Capital Management Lowers stake in Coach Inc (COH)

Coach Inc (COH) : Taylor Frigon Capital Management reduced its stake in Coach Inc by 1.93% during the most recent quarter end. The investment management company now holds a total of 35,542 shares of Coach Inc which is valued at $1,483,879 after selling 699 shares in Coach Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Coach Inc makes up approximately 1.49% of Taylor Frigon Capital Management’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems boosted its stake in COH in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 50,835 shares of Coach Inc which is valued at $2,122,361. Coach Inc makes up approx 0.05% of Utah Retirement Systems’s portfolio.Wright Investors Service Inc reduced its stake in COH by selling 4,785 shares or 22.58% in the most recent quarter. The Hedge Fund company now holds 16,410 shares of COH which is valued at $685,118. Coach Inc makes up approx 0.27% of Wright Investors Service Inc’s portfolio.Whittier Trust Co Of Nevada Inc reduced its stake in COH by selling 1,195 shares or 95.22% in the most recent quarter. The Hedge Fund company now holds 60 shares of COH which is valued at $2,587.Franklin Street Advisors Inc Nc boosted its stake in COH in the latest quarter, The investment management firm added 18,400 additional shares and now holds a total of 111,755 shares of Coach Inc which is valued at $4,694,828. Coach Inc makes up approx 0.87% of Franklin Street Advisors Inc Nc’s portfolio.

Coach Inc closed down -0.58 points or -1.38% at $41.45 with 93,43,050 shares getting traded on Monday. Post opening the session at $42.16, the shares hit an intraday low of $41.23 and an intraday high of $42.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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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