Rumoured M&A with Burberry reactivates investors’ activity at Coach

After rumours broke on a potential merger with British luxury giant Burberry, Coach Inc. has seen a peak in activity regarding its institutional investors. It’s noteworthy that 89.38 percent of the stock is currently owned by hedge funds and other institutional investors.

Huntington National Bank decreased its stake in Coach Inc. (NYSE:COH) by 27.2 percent during the second quarter, ‘Holdings Channel’ reported over the weekend. The institutional investor owned 7,148 shares of the luxury accessories retailer’s stock after selling 2,676 shares during the period. Huntington National Bank’s holdings in Coach were worth 292,000 dollars at the end of the most recent reporting period.

Likewise, other hedge funds have also recently modified their holdings of COH.

Americafirst Capital Management LLC purchased a new stake in shares of Coach during the second quarter valued at 140,000 dollars, while NEXT Financial Group Inc boosted its stake in Coach by 23.2 percent in the second quarter. NEXT Financial Group Inc now owns 4,764 shares of the luxury accessories retailer’s stock valued at 194,000 dollars after buying an additional 897 shares during the period.

Similarly, Conning Inc. boosted its stake in Coach by 0.3 percent in the second quarter, currently holding 6,456 shares of the luxury accessories retailer’s stock valued at 263,000 dollars. City Holding Co. boosted its stake in Coach by 8.8 percent in the second quarter to a total of 7,072 shares valued at 288,000 dollars.

Finally, Magnetar Financial LLC bought a new stake in Coach during the first quarter valued at approximately 349,000 dollars.

Shares of Coach Inc. (NYSE:COH) traded down 1.00 percent during midday trading on Friday, after market digested the rumours of a potential merger with Burberry. The stock hit a 35.55 dollars apiece price tag after 4,284,361 shares of the company traded hands.

Coach Inc. has a 52 week low of 28.70 dollars and a 52 week high of 43.71 dollars. The stock has a market capitalisation of 9.92 billion dollars.