Coach Inc. (COH) Sees Large Volume Increase
Coach Inc. (NYSE:COH) saw unusually-high trading volume on Wednesday . Approximately 4,108,365 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 3,257,504 shares.The stock last traded at $41.60 and had previously closed at $41.67.
COH has been the subject of a number of research reports. William Blair raised shares of Coach from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 7th. Nomura reaffirmed a “buy” rating and issued a $50.00 price objective (up from $40.00) on shares of Coach in a research note on Thursday, April 7th. Miller Tabak initiated coverage on shares of Coach in a research note on Friday, April 8th. They issued a “hold” rating and a $35.00 price objective for the company. KeyCorp upped their price objective on shares of Coach to $46.00 in a research note on Friday, April 8th. Finally, Vetr raised shares of Coach from a “strong sell” rating to a “sell” rating and set a $35.15 price objective for the company in a research note on Monday, April 11th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.22.
The company has a market capitalization of $11.61 billion and a price-to-earnings ratio of 29.78. The company has a 50-day moving average price of $41.22 and a 200 day moving average price of $38.96.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 3rd were given a $0.3375 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $1.35 annualized dividend and a dividend yield of 3.23%.
In other news, Director Jide James Zeitlin sold 3,206 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $37.32, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds recently modified their holdings of the stock. Royce & Associates LLC bought a new stake in shares of Coach during the fourth quarter valued at about $1,168,000. Andra AP fonden increased its stake in shares of Coach by 7.2% in the fourth quarter. Andra AP fonden now owns 47,600 shares of the luxury accessories retailer’s stock valued at $1,558,000 after buying an additional 3,200 shares in the last quarter. Utah Retirement Systems increased its stake 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 in the last quarter. Suntrust Banks Inc. increased its stake in shares of Coach by 2.9% in the fourth quarter. Suntrust Banks Inc. now owns 58,998 shares of the luxury accessories retailer’s stock valued at $1,928,000 after buying an additional 1,636 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of Coach by 7.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 64,977 shares of the luxury accessories retailer’s stock valued at $1,959,000 after buying an additional 4,290 shares in 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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