Investors Buy High Volume of Coach Put Options (COH)
Coach, Inc. (NYSE:COH) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 8,123 put options on the stock. This is an increase of approximately 566% compared to the average daily volume of 1,219 put options.
Several equities analysts have recently issued reports on the stock. Vetr downgraded shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price target for the company. in a research note on Monday, July 24th. Jefferies Group LLC downgraded shares of Coach from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global raised shares of Coach to a “positive” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $55.00 target price on shares of Coach and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets set a $42.00 target price on shares of Coach and gave the stock a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.92.
In other news, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $46.06, for a total transaction of $137,627.28. Following the completion of the transaction, the insider now owns 43,198 shares of the company’s stock, valued at $1,989,699.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total transaction of $349,901.65. Following the transaction, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in COH. Northwest Investment Counselors LLC boosted its stake in shares of Coach by 18.3% in the first quarter. Northwest Investment Counselors LLC now owns 39,128 shares of the luxury accessories retailer’s stock valued at $1,617,000 after buying an additional 6,056 shares in the last quarter. CAPROCK Group Inc. boosted its stake in shares of Coach by 5.8% in the first quarter. CAPROCK Group Inc. now owns 19,903 shares of the luxury accessories retailer’s stock valued at $823,000 after buying an additional 1,096 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Coach by 471.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,260 shares of the luxury accessories retailer’s stock valued at $3,565,000 after buying an additional 71,156 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Coach during the first quarter valued at $510,000. Finally, Ledyard National Bank acquired a new stake in shares of Coach during the first quarter valued at $482,000. Institutional investors own 88.44% of the company’s stock.
Shares of Coach (NYSE:COH) opened at 40.72 on Thursday. Coach has a 52 week low of $34.07 and a 52 week high of $48.85. The stock has a market cap of $11.45 billion, a PE ratio of 21.99 and a beta of 0.45. The stock has a 50 day moving average of $47.17 and a 200-day moving average of $42.94.
Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts predict that Coach will post $2.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, September 7th. Coach’s dividend 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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