Coach Inc. (COH) Trading Down 2.1%
Coach Inc. (NYSE:COH) was down 2.1% during mid-day trading on Friday . The company traded as low as $38.95 and last traded at $38.99, with a volume of 1,490,859 shares trading hands. The stock had previously closed at $39.83.
A number of equities research analysts have recently issued reports on COH shares. Zacks Investment Research raised shares of Coach from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, April 28th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, May 3rd. KeyCorp reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, May 3rd. Vetr raised Coach from a “strong sell” rating to a “sell” rating and set a $35.56 price target for the company in a research note on Thursday, May 5th. Finally, Argus reaffirmed a “hold” rating on shares of Coach in a research note on Saturday, May 14th. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.84.
The firm has a 50-day moving average of $41.47 and a 200-day moving average of $39.56. The stock has a market capitalization of $10.85 billion and a P/E ratio of 23.58.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts forecast that Coach Inc. will post $2.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.47%.
In related news, Director Jide James Zeitlin sold 3,206 shares of Coach stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $37.32, for a total transaction of $119,647.92. Following the sale, the director now directly owns 57,717 shares in the company, valued at $2,153,998.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in Coach by 14.3% in the fourth quarter. American International Group Inc. now owns 10,882,365 shares of the luxury accessories retailer’s stock valued at $356,180,000 after buying an additional 1,361,137 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Coach by 2,439.8% in the fourth quarter. Ameriprise Financial Inc. now owns 6,724,011 shares of the luxury accessories retailer’s stock valued at $220,061,000 after buying an additional 6,459,263 shares during the period. Principal Financial Group Inc. increased its stake in Coach by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 407,675 shares of the luxury accessories retailer’s stock valued at $13,343,000 after buying an additional 17,791 shares during the period. State of Tennessee Treasury Department increased its stake in Coach by 308.5% in the fourth quarter. State of Tennessee Treasury Department now owns 174,000 shares of the luxury accessories retailer’s stock valued at $5,695,000 after buying an additional 131,400 shares during the period. Finally, Utah Retirement Systems increased its stake in Coach by 0.4% in the fourth quarter. Utah Retirement Systems now owns 49,535 shares of the luxury accessories retailer’s stock valued at $1,621,000 after buying an additional 200 shares during the period.
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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