Investors Sell Coach Inc. (COH) on Strength (COH)
Investors sold shares of Coach Inc. (NYSE:COH) on strength during trading hours on Monday. $12.29 million flowed into the stock on the tick-up and $37.08 million flowed out of the stock on the tick-down, for a money net flow of $24.79 million out of the stock. Of all equities tracked, Coach had the 0th highest net out-flow for the day. Coach traded up $0.08 for the day and closed at $38.99
A number of analysts recently commented on the stock. Argus restated a “hold” rating on shares of Coach in a research note on Saturday, May 14th. Jefferies Group reiterated a “buy” rating on shares of Coach in a research note on Sunday, May 22nd. Vetr upgraded shares of Coach from a “strong sell” rating to a “hold” rating and set a $39.55 target price on the stock in a research note on Wednesday, June 1st. Piper Jaffray Cos. reiterated a “buy” rating on shares of Coach in a research note on Tuesday, May 3rd. Finally, KeyCorp reiterated a “buy” rating on shares of Coach in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Coach has a consensus rating of “Hold” and a consensus price target of $41.93.
The stock’s 50 day moving average is $41.36 and its 200 day moving average is $39.72. The firm has a market capitalization of $10.88 billion and a P/E ratio of 23.63.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (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 the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Equities research analysts predict 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. Shareholders 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 dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, September 8th.
In other Coach news, Director Jide James Zeitlin sold 3,206 shares of the stock in a transaction dated 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 sale, the director now directly owns 57,717 shares of the company’s stock, valued at $2,153,998.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several hedge funds 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 during the last quarter. Utah Retirement Systems raised its position in shares of 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 position in shares of 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. Finally, Principal Financial Group Inc. raised its position in shares of 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.
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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