Trade Report: The Greatmark Investment Partners Inc. lowers its Position in Coach Inc. (COH)

The Greatmark Investment Partners Inc. lowers its Position in Coach Inc. (COH)

Greatmark Investment Partners Inc. reduced its stake in Coach Inc. (NYSE:COH) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,235 shares of the luxury accessories retailer’s stock after selling 9,145 shares during the period. Coach makes up about 1.5% of Greatmark Investment Partners Inc.’s holdings, making the stock its 21st largest position. Greatmark Investment Partners Inc.’s holdings in Coach were worth $3,269,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in shares of Coach during the second quarter worth $140,000. NEXT Financial Group Inc increased its stake in Coach by 23.2% in the second quarter. NEXT Financial Group Inc now owns 4,764 shares of the luxury accessories retailer’s stock valued at $194,000 after buying an additional 897 shares during the last quarter. Conning Inc. increased its stake in Coach by 0.3% in the second quarter. Conning Inc. now owns 6,456 shares of the luxury accessories retailer’s stock valued at $263,000 after buying an additional 20 shares during the last quarter. City Holding Co. increased its stake in Coach by 8.8% in the second quarter. City Holding Co. now owns 7,072 shares of the luxury accessories retailer’s stock valued at $288,000 after buying an additional 572 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Coach during the first quarter valued at about $349,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Shares of Coach Inc. (NYSE:COH) traded down 1.18% during trading on Friday, reaching $35.86. The company’s stock had a trading volume of 1,921,240 shares. The company’s 50 day moving average price is $36.87 and its 200 day moving average price is $39.33. The firm has a market cap of $10.00 billion, a PE ratio of 21.73 and a beta of 0.90. Coach Inc. has a 12 month low of $28.70 and a 12 month high of $43.71.

Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Coach had a return on equity of 21.32% and a net margin of 10.25%. The company earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Coach’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Coach Inc. will post $2.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a dividend of $0.3375 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.72%. Coach’s dividend payout ratio (DPR) is currently 81.82%.

Several analysts have issued reports on the company. Vetr downgraded Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 price objective on the stock. in a report on Tuesday, August 2nd. Piper Jaffray Cos. restated an “overweight” rating and set a $47.00 price objective on shares of Coach in a report on Tuesday, August 2nd. Zacks Investment Research downgraded Coach from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. OTR Global upgraded Coach to a “positive” rating in a report on Monday, August 1st. Finally, Credit Suisse Group AG upgraded Coach from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $42.00 to $47.00 in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.13.

About Coach

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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