Coach Inc. (COH) Trading Up 2.1%
Coach Inc. (NYSE:COH) shares were up 2.1% on Friday . The company traded as high as $40.40 and last traded at $40.29, with a volume of 4,358,423 shares traded. The stock had previously closed at $39.46.
A number of research analysts have weighed in on COH shares. TheStreet downgraded shares of Coach from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 price objective on shares of Coach in a research report on Saturday, June 25th. Zacks Investment Research upgraded shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, June 29th. Morgan Stanley restated a “hold” rating on shares of Coach in a research report on Tuesday, April 26th. Finally, Jefferies Group restated a “buy” rating and set a $51.00 price target on shares of Coach in a research report on Thursday, June 2nd. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and twenty have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.84.
The firm’s 50 day moving average is $41.54 and its 200 day moving average is $39.45. The stock has a market cap of $11.21 billion and a price-to-earnings ratio of 24.43.
Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. On average, analysts expect that Coach Inc. will post $2.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued 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 dividend yield of 3.35%.
In other Coach news, Director Jide James Zeitlin sold 3,206 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $37.32, for a total transaction of $119,647.92. Following the sale, the director now directly owns 57,717 shares of the company’s stock, valued at $2,153,998.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds have modified their holdings of COH. Royce & Associates LLC acquired a new stake in shares of Coach during the fourth quarter worth $1,168,000. Andra AP fonden boosted 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 worth $1,558,000 after buying an additional 3,200 shares during the period. Utah Retirement Systems boosted 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 worth $1,621,000 after buying an additional 200 shares during the period. Eaton Vance Management boosted 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 worth $1,964,000 after buying an additional 16,771 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Coach by 167.7% in the fourth quarter. Victory Capital Management Inc. now owns 126,180 shares of the luxury accessories retailer’s stock worth $4,129,000 after buying an additional 79,040 shares during the period.
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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