Coach Inc. (COH) Trading 3.3% Higher
Coach Inc. (NYSE:COH)’s share price traded up 3.3% during mid-day trading on Monday . The stock traded as high as $36.33 and last traded at $36.21, with a volume of 2,206,273 shares trading hands. The stock had previously closed at $35.04.
Several equities analysts recently issued reports on the company. Piper Jaffray Cos. set a $46.00 price objective on Coach and gave the company a “buy” rating in a research report on Monday. Morgan Stanley cut Coach from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, September 14th. Jefferies Group reaffirmed a “buy” rating on shares of Coach in a research report on Friday, September 2nd. BlueFin Research reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Coach in a research report on Monday, August 29th. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $41.81.
The stock’s 50-day moving average is $38.83 and its 200 day moving average is $39.67. The firm has a market cap of $10.00 billion, a P/E ratio of 21.72 and a beta of 0.90.
Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. Coach’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts predict that Coach Inc. will post $2.16 EPS for the current year.
The firm 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 of this dividend is Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a yield of 3.77%. Coach’s payout ratio is presently 81.82%.
Institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its position in Coach by 8.6% in the second quarter. Macquarie Group Ltd. now owns 104,550 shares of the luxury accessories retailer’s stock valued at $4,259,000 after buying an additional 8,300 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Coach during the second quarter valued at $457,000. Kentucky Retirement Systems purchased a new position in Coach during the second quarter valued at $963,000. Mason Street Advisors LLC purchased a new position in Coach during the second quarter valued at $1,526,000. Finally, Public Employees Retirement System of Ohio raised its position in Coach by 27.8% in the second quarter. Public Employees Retirement System of Ohio now owns 137,324 shares of the luxury accessories retailer’s stock valued at $5,595,000 after buying an additional 29,879 shares during the last quarter. Institutional investors own 89.72% of the company’s stock.
Coach Company Profile
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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