Coach Inc. (COH) Trading 3.3% Higher
Coach Inc. (NYSE:COH)’s share price traded up 3.3% during mid-day trading on Monday . The company traded as high as $36.33 and last traded at $36.21, with a volume of 2,206,273 shares changing hands. The stock had previously closed at $35.04.
A number of brokerages have weighed in on COH. Jefferies Group reaffirmed a “buy” rating on shares of Coach in a research report on Sunday, May 22nd. Piper Jaffray Cos. set a $46.00 target price on Coach and gave the company a “buy” rating in a research report on Monday. Deutsche Bank AG reaffirmed a “hold” rating and set a $43.00 target price on shares of Coach in a research report on Wednesday, August 10th. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $47.00 target price on shares of Coach in a research report on Thursday, August 11th. Finally, Robert W. Baird raised Coach from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $45.00 to $50.00 in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.81.
The firm has a 50-day moving average of $39.78 and a 200 day moving average of $39.76. The firm has a market capitalization of $10.03 billion, a P/E ratio of 21.78 and a beta of 0.90.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. Equities research analysts anticipate that Coach Inc. will post $2.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, September 8th. Coach’s dividend payout ratio (DPR) is 81.82%.
Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Coach during the fourth quarter valued at approximately $95,338,000. Bank of Montreal Can purchased a new stake in shares of Coach during the second quarter valued at approximately $48,321,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Coach during the first quarter valued at approximately $45,839,000. FMR LLC raised its stake in shares of Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock valued at $584,978,000 after buying an additional 927,743 shares during the period. Finally, Janus Capital Management LLC raised its stake in shares of Coach by 1,271.3% in the second quarter. Janus Capital Management LLC now owns 970,227 shares of the luxury accessories retailer’s stock valued at $39,527,000 after buying an additional 899,476 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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