Flippin Bruce Porter Inc buys $6,271,710 stake in Coach Inc (COH)

Coach Inc (COH) : Flippin Bruce Porter Inc scooped up 6,274 additional shares in Coach Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 157,304 shares of Coach Inc which is valued at $6,271,710.Coach Inc makes up approximately 1.76% of Flippin Bruce Porter Inc’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc reduced its stake in COH by selling 27,801 shares or 39.04% in the most recent quarter. The Hedge Fund company now holds 43,419 shares of COH which is valued at $1,731,116. Coach Inc makes up approx 0.05% of Oppenheimer Co 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.

Coach Inc opened for trading at $39.5 and hit $39.955 on the upside on Monday, eventually ending the session at $39.72, with a gain of 0.99% or 0.39 points. The heightened volatility saw the trading volume jump to 45,30,815 shares. Company has a market cap of $11,043 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.

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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