Coach Inc (NYSE:COH)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Co in a note issued to investors on Tuesday, May 9th. They currently have a $50.00 price target on the luxury accessories retailer’s stock, up from their previous price target of $47.00. Wells Fargo & Co’s price target indicates a potential upside of 11.93% from the stock’s previous close.
COH has been the topic of several other research reports. Vetr cut Coach from a “strong-buy” rating to a “buy” rating and set a $39.45 price objective on the stock. in a research note on Tuesday, January 17th. Wedbush reiterated a “neutral” rating and set a $38.00 price target on shares of Coach in a research report on Tuesday, March 21st. Piper Jaffray Companies dropped their price target on Coach from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 1st. Goldman Sachs Group Inc upgraded Coach from a “sell” rating to a “neutral” rating and set a $36.00 price target on the stock in a research report on Thursday, February 2nd. Finally, Royal Bank of Canada set a $42.00 target price on Coach and gave the company a “buy” rating in a research report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. Coach has an average rating of “Buy” and an average price target of $46.36.
Coach (NYSE:COH) traded up 1.265% during mid-day trading on Tuesday, hitting $45.235. The company had a trading volume of 1,069,002 shares. Coach has a 52-week low of $34.07 and a 52-week high of $46.56. The company has a market capitalization of $12.72 billion, a P/E ratio of 24.425 and a beta of 0.49. The company has a 50-day moving average price of $41.52 and a 200 day moving average price of $38.30.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $995.20 million during the quarter, compared to the consensus estimate of $1.02 billion. Coach had a return on equity of 21.66% and a net margin of 11.24%. Coach’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share. On average, analysts forecast that Coach will post $2.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th will be paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.02%. Coach’s dividend payout ratio (DPR) is currently 74.18%.
In related news, Director Susan J. Kropf sold 4,239 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $45.99, for a total value of $194,951.61. Following the completion of the transaction, the director now owns 36,948 shares in the company, valued at approximately $1,699,238.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $45.45, for a total transaction of $884,002.50. Following the completion of the transaction, the chief accounting officer now directly owns 98,343 shares of the company’s stock, valued at approximately $4,469,689.35. The disclosure for this sale can be found here. Insiders sold 33,776 shares of company stock valued at $1,536,400 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of COH. Bank of Nova Scotia boosted its stake in shares of Coach by 932.7% in the first quarter. Bank of Nova Scotia now owns 64,489 shares of the luxury accessories retailer’s stock worth $2,666,000 after buying an additional 58,244 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Coach by 66.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,136 shares of the luxury accessories retailer’s stock worth $543,000 after buying an additional 5,236 shares during the last quarter. Shelton Capital Management boosted its stake in shares of Coach by 48.1% in the first quarter. Shelton Capital Management now owns 93,656 shares of the luxury accessories retailer’s stock worth $3,871,000 after buying an additional 30,400 shares during the last quarter. Scopus Asset Management L.P. boosted its stake in shares of Coach by 53.9% in the first quarter. Scopus Asset Management L.P. now owns 1,700,000 shares of the luxury accessories retailer’s stock worth $70,261,000 after buying an additional 595,300 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in Coach by 105.0% in the first quarter. Gotham Asset Management LLC now owns 403,023 shares of the luxury accessories retailer’s stock valued at $16,657,000 after buying an additional 206,416 shares in the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
Coach Company Profile
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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