Hedge Funds Are Selling Coach Inc (COH)

Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. What do these smart investors think about Coach Inc (NYSE:COH)?

Coach Inc (NYSE:COH) investors should pay attention to a decrease in activity from the world’s largest hedge funds lately. At the end of this article we will also compare COH to other stocks including BRF Brasil Foods SA (ADR) (NYSE:BRFS), Cimarex Energy Co (NYSE:XEC), and L-3 Communications Holdings, Inc. (NYSE:LLL) to get a better sense of its popularity.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

Copyright: dolgachov / 123RF Stock Photo

With all of this in mind, we’re going to analyze the new action regarding Coach Inc (NYSE:COH).

What does the smart money think about Coach Inc (NYSE:COH)?

Heading into the fourth quarter of 2016, a total of 32 of the hedge funds tracked by Insider Monkey were long this stock, a decreased of 11% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Shellback Capital, managed by Doug Gordon, Jon Hilsabeck and Don Jabro, holds the largest position in Coach Inc (NYSE:COH). The fund reportedly has a $24.3 million position in the stock, comprising 2.1% of its 13F portfolio. Coming in second is Buckingham Capital Management, managed by David Keidan, which holds a $20.4 million stake; the fund has 2.6% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors with similar optimism include David Harding’s Winton Capital Management, Phill Gross and Robert Atchinson’s Adage Capital Management and Joel Greenblatt’s Gotham Asset Management.