Hedge Funds Are Selling Coach Inc (COH)

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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.

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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.

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