Credit Agricole SA Initiates Coverage on Coach Inc. (COH)
Credit Agricole SA assumed coverage on shares of Coach Inc. (NYSE:COH) in a report published on Wednesday. The firm issued a buy rating and a $45.00 price target on the luxury accessories retailer’s stock.
Several other analysts also recently issued reports on COH. Vetr raised shares of Coach from a strong sell rating to a hold rating and set a $39.55 price objective for the company in a research note on Wednesday, June 1st. Zacks Investment Research raised shares of Coach from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Wednesday, June 29th. Argus reissued a hold rating on shares of Coach in a research note on Saturday, August 13th. Telsey Advisory Group raised shares of Coach from a market perform rating to an outperform rating and set a $49.00 price objective for the company in a research note on Friday, August 5th. Finally, Stifel Nicolaus reissued a hold rating on shares of Coach in a research note on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the stock. Coach presently has an average rating of Hold and a consensus target price of $42.13.
Shares of Coach (NYSE:COH) opened at 36.54 on Wednesday. The company has a 50 day moving average price of $37.61 and a 200 day moving average price of $39.48. Coach has a 1-year low of $28.70 and a 1-year high of $43.71. The stock has a market cap of $10.19 billion, a P/E ratio of 22.15 and a beta of 0.90.
Coach (NYSE:COH) last announced its quarterly earnings data 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 earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Coach will post $2.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a $0.3375 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.69%. Coach’s dividend payout ratio (DPR) is 81.82%.
Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Coach by 1,307.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the luxury accessories retailer’s stock valued at $129,000 after buying an additional 2,941 shares during the period. Americafirst Capital Management LLC purchased a new stake in Coach during the second quarter valued at $140,000. Mizuho Asset Management Co. Ltd. boosted its stake in Coach by 132.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,763 shares of the luxury accessories retailer’s stock valued at $153,000 after buying an additional 2,146 shares during the period. M&R Capital Management Inc. purchased a new stake in Coach during the second quarter valued at $154,000. Finally, Global X Management Co. LLC boosted its stake in Coach by 255.6% in the second quarter. Global X Management Co. LLC now owns 4,072 shares of the luxury accessories retailer’s stock valued at $166,000 after buying an additional 2,927 shares during the period. 89.72% of the stock is owned by institutional investors and hedge funds.
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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