Coach, Inc. (COH) Receives Consensus Rating of “Buy” from Analysts
Shares of Coach, Inc. (NYSE:COH) have been assigned an average recommendation of “Buy” from the thirty brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $46.44.
COH has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $50.00 price target (up from $45.00) on shares of Coach in a research report on Thursday, June 15th. UBS AG reduced their price target on shares of Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 17th. Wolfe Research lowered shares of Coach from an “outperform” rating to a “peer perform” rating and reduced their price target for the company from $51.00 to $42.00 in a research report on Tuesday. Nomura set a $53.00 price target on shares of Coach and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Vetr upgraded shares of Coach from a “sell” rating to a “hold” rating and set a $45.98 price target on the stock in a research report on Monday, August 14th.
In other news, SVP Melinda Brown sold 8,250 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Sentry Investment Management LLC increased its position in shares of Coach by 1.1% during the second quarter. Sentry Investment Management LLC now owns 13,382 shares of the luxury accessories retailer’s stock worth $634,000 after acquiring an additional 142 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Coach by 25.8% during the second quarter. Toronto Dominion Bank now owns 95,230 shares of the luxury accessories retailer’s stock worth $4,507,000 after acquiring an additional 19,508 shares in the last quarter. Archford Capital Strategies LLC increased its position in shares of Coach by 3,720.0% during the second quarter. Archford Capital Strategies LLC now owns 1,910 shares of the luxury accessories retailer’s stock worth $217,000 after acquiring an additional 1,860 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Coach during the second quarter worth $257,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Coach during the second quarter worth $1,534,000. 86.32% of the stock is owned by institutional investors.
Coach (COH) opened at 39.83 on Friday. Coach has a one year low of $34.07 and a one year high of $48.85. The firm has a 50-day moving average of $40.72 and a 200-day moving average of $43.56. The company has a market cap of $11.26 billion, a PE ratio of 19.06 and a beta of 0.44.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that Coach will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, September 7th. Coach’s payout ratio is presently 64.59%.
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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