Traders Sell Shares of Coach Inc. (COH) on Strength (COH)
Investors sold shares of Coach Inc. (NYSE:COH) on strength during trading hours on Tuesday. $12.29 million flowed into the stock on the tick-up and $37.08 million flowed out of the stock on the tick-down, for a money net flow of $24.79 million out of the stock. Of all equities tracked, Coach had the 0th highest net out-flow for the day. Coach traded up $0.08 for the day and closed at $38.99
A number of analysts have weighed in on COH shares. KeyCorp restated a “buy” rating on shares of Coach in a research report on Tuesday, May 3rd. Piper Jaffray Cos. restated a “buy” rating on shares of Coach in a research report on Tuesday, May 3rd. Jefferies Group restated a “buy” rating on shares of Coach in a research report on Sunday, May 22nd. Zacks Investment Research upgraded shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, June 29th. Finally, Vetr lowered shares of Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 target price on the stock. in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have given a buy rating to the stock. Coach presently has an average rating of “Hold” and a consensus price target of $41.90.
The stock’s 50 day moving average price is $41.26 and its 200 day moving average price is $39.75. The company has a market cap of $10.76 billion and a PE ratio of 23.39.
Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The business earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, analysts forecast that Coach Inc. will post $2.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Thursday, September 8th.
In related news, Director Jide James Zeitlin sold 3,206 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $37.32, for a total value of $119,647.92. Following the completion of the sale, the director now directly owns 57,717 shares of the company’s stock, valued at $2,153,998.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Several institutional investors recently bought and sold shares of the stock. Utah Retirement Systems increased its position in 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 period. Principal Financial Group Inc. raised its stake in shares of Coach by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 407,675 shares of the luxury accessories retailer’s stock worth $13,343,000 after buying an additional 17,791 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Coach by 308.5% in the fourth quarter. State of Tennessee Treasury Department now owns 174,000 shares of the luxury accessories retailer’s stock worth $5,695,000 after buying an additional 131,400 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of Coach by 14.3% in the fourth quarter. American International Group Inc. now owns 10,882,365 shares of the luxury accessories retailer’s stock worth $356,180,000 after buying an additional 1,361,137 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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