Coach Inc (NYSE:COH) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $41.20 price objective on the luxury accessories retailer’s stock. Vetr‘s price objective indicates a potential upside of 5.24% from the company’s current price.
Several other analysts have also commented on COH. Morgan Stanley reaffirmed an “underweight” rating on shares of Coach in a research report on Tuesday, November 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 target price on shares of Coach in a research note on Monday, December 12th. Jefferies Group LLC reiterated a “buy” rating on shares of Coach in a research note on Tuesday, January 3rd. Zacks Investment Research downgraded shares of Coach from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Finally, Atlantic Securities downgraded shares of Coach from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $43.07.
Shares of Coach (NYSE:COH) traded down 1.48% during mid-day trading on Monday, hitting $39.15. 2,103,117 shares of the stock were exchanged. The stock’s 50-day moving average is $38.07 and its 200-day moving average is $36.81. Coach has a 52 week low of $34.07 and a 52 week high of $43.71. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 21.49 and a beta of 0.49.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, January 31st. The luxury accessories retailer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Coach had a net margin of 11.24% and a return on equity of 21.66%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Analysts forecast that Coach will post $2.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be issued a $0.3375 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.45%. Coach’s payout ratio is 74.18%.
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In other news, Director Annabelle Yu Long sold 2,310 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $35.12, for a total value of $81,127.20. Following the completion of the sale, the director now directly owns 2,020 shares in the company, valued at approximately $70,942.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.81% of the company’s stock.
Several large investors have recently made changes to their positions in COH. Sumitomo Life Insurance Co. raised its stake in shares of Coach by 9.2% in the third quarter. Sumitomo Life Insurance Co. now owns 42,799 shares of the luxury accessories retailer’s stock worth $1,565,000 after buying an additional 3,594 shares during the last quarter. Northern Trust Corp raised its stake in shares of Coach by 0.4% in the third quarter. Northern Trust Corp now owns 3,251,779 shares of the luxury accessories retailer’s stock worth $118,885,000 after buying an additional 13,858 shares during the last quarter. Morgan Stanley raised its stake in shares of Coach by 224.8% in the third quarter. Morgan Stanley now owns 2,665,389 shares of the luxury accessories retailer’s stock worth $97,445,000 after buying an additional 1,844,686 shares during the last quarter. Redwood Investments LLC acquired a new stake in shares of Coach during the third quarter worth $16,368,000. Finally, WINTON GROUP Ltd raised its stake in shares of Coach by 4.5% in the third quarter. WINTON GROUP Ltd now owns 541,889 shares of the luxury accessories retailer’s stock worth $19,811,000 after buying an additional 23,504 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.
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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