Coach Inc. (COH) Trading Up 2.1%
Coach Inc. (NYSE:COH)’s share price rose 2.1% on Friday . The stock traded as high as $40.40 and last traded at $40.29, with a volume of 4,358,423 shares changing hands. The stock had previously closed at $39.46.
A number of research firms recently issued reports on COH. Robert W. Baird upgraded Coach from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a report on Monday, July 18th. Deutsche Bank AG restated a “hold” rating and set a $43.00 price objective on shares of Coach in a report on Wednesday, August 10th. Wells Fargo & Co. restated an “outperform” rating and set a $47.00 price objective on shares of Coach in a report on Thursday, August 11th. TheStreet upgraded Coach from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 target price on shares of Coach in a report on Saturday, June 25th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $41.84.
The company has a market capitalization of $11.21 billion and a PE ratio of 24.43. The company’s 50 day moving average is $41.54 and its 200-day moving average is $39.45.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Coach’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. Equities analysts forecast that Coach Inc. will post $2.17 EPS for the current 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 paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.35%.
In other Coach news, Director Jide James Zeitlin sold 3,206 shares of the firm’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 value of $119,647.92. Following the sale, the director now 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 is available through the SEC website.
Several large investors have recently made changes to their positions in COH. Royce & Associates LLC purchased a new stake in shares of Coach during the fourth quarter valued at approximately $1,168,000. Andra AP fonden raised 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 during the last quarter. Utah Retirement Systems raised 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 during the last quarter. Suntrust Banks Inc. raised 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 during the last quarter. Finally, Eaton Vance Management raised its stake in shares of Coach by 38.8% in the fourth quarter. Eaton Vance Management now owns 60,018 shares of the luxury accessories retailer’s stock valued at $1,964,000 after buying an additional 16,771 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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