Coach Inc. (COH) Stock Price Down 2.1%
Coach Inc. (NYSE:COH)’s share price dropped 2.1% during mid-day trading on Friday . The stock traded as low as $38.95 and last traded at $38.99, with a volume of 1,490,859 shares changing hands. The stock had previously closed at $39.83.
COH has been the topic of several research reports. TheStreet downgraded Coach from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $47.00 target price on shares of Coach in a research report on Saturday, June 25th. Cowen and Company reaffirmed an “outperform” rating on shares of Coach in a report on Tuesday, August 23rd. Zacks Investment Research raised shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, June 29th. Finally, OTR Global raised shares of Coach to a “positive” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.84.
The company has a market cap of $10.85 billion and a PE ratio of 23.58. The company has a 50 day moving average of $41.43 and a 200 day moving average of $39.60.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. During the same period last year, the company posted $0.31 EPS. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts predict that Coach Inc. will post $2.16 earnings per share for the current fiscal year.
The business 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. This represents a $1.35 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, September 8th.
In related news, Director Jide James Zeitlin sold 3,206 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $37.32, for a total transaction of $119,647.92. Following the completion of the transaction, the director now owns 57,717 shares of the company’s stock, valued at $2,153,998.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several large investors have added to or reduced their stakes in the company. Utah Retirement Systems raised 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 last quarter. State of Tennessee Treasury Department raised 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 last quarter. Principal Financial Group Inc. raised 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 last quarter. Finally, 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 during the last quarter.
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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