Carl Domino Inc Lowers stake in Coach Inc (COH)

Coach Inc (COH) : Carl Domino Inc reduced its stake in Coach Inc by 3.27% during the most recent quarter end. The investment management company now holds a total of 35,695 shares of Coach Inc which is valued at $1,293,944 after selling 1,205 shares in Coach Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Coach Inc makes up approximately 1.23% of Carl Domino Inc’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in COH in the latest quarter, The investment management firm added 9,858 additional shares and now holds a total of 1,379,753 shares of Coach Inc which is valued at $50,016,046. Coach Inc makes up approx 0.05% of Legal General Group Plc’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in COH by selling 744 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 71,224 shares of COH which is valued at $2,599,676. Coach Inc makes up approx 0.05% of Exxonmobil Investment Management Inc Tx’s portfolio.First Mercantile Trust Co reduced its stake in COH by selling 2,800 shares or 11.97% in the most recent quarter. The Hedge Fund company now holds 20,600 shares of COH which is valued at $751,900. Coach Inc makes up approx 0.10% of First Mercantile Trust Co’s portfolio.

Coach Inc closed down -0.42 points or -1.15% at $36.25 with 33,22,784 shares getting traded on Tuesday. Post opening the session at $36.67, the shares hit an intraday low of $36.11 and an intraday high of $36.84 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Initiated by Guggenheim to “Buy” on Sep 30, 2016. CLSA Initiated Coach Inc on Sep 29, 2016 to “Buy”, Price Target of the shares are set at $45.Coach Inc was Downgraded by Morgan Stanley to ” Underweight” on Sep 14, 2016.

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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