Coach, Inc. (NYSE:COH) Downgraded to Sell at Vetr Inc.
Vetr downgraded shares of Coach, Inc. (NYSE:COH) from a hold rating to a sell rating in a research report report published on Monday. Vetr currently has $45.98 target price on the luxury accessories retailer’s stock.
A number of other equities analysts have also recently weighed in on the company. OTR Global upgraded Coach to a positive rating in a report on Friday. MKM Partners began coverage on Coach in a report on Monday, July 10th. They issued a buy rating and a $50.00 price target for the company. BMO Capital Markets set a $42.00 price target on Coach and gave the stock a hold rating in a report on Thursday, July 6th. Jefferies Group LLC set a $53.00 price target on Coach and gave the stock a buy rating in a report on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. restated a buy rating on shares of Coach in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $48.44.
Shares of Coach (NYSE COH) opened at 48.55 on Monday. The company has a 50-day moving average of $47.05 and a 200 day moving average of $41.65. The firm has a market cap of $13.65 billion, a PE ratio of 26.21 and a beta of 0.45. Coach has a one year low of $34.07 and a one year high of $48.76.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The firm had revenue of $995.20 million during the quarter, compared to analysts’ expectations of $1.02 billion. Coach had a return on equity of 21.36% and a net margin of 11.55%. Coach’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. On average, equities research analysts expect that Coach will post $2.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Wednesday, June 7th. Coach’s dividend payout ratio is currently 72.97%.
In related news, CAO Todd Kahn sold 19,450 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total transaction of $884,002.50. Following the sale, the chief accounting officer now directly owns 98,343 shares of the company’s stock, valued at approximately $4,469,689.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andre Cohen sold 10,087 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $45.35, for a total value of $457,445.45. Following the sale, the insider now directly owns 46,186 shares in the company, valued at $2,094,535.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,359 shares of company stock worth $2,023,928. Corporate insiders own 0.81% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Cullinan Associates Inc. raised its stake in Coach by 2.7% in the first quarter. Cullinan Associates Inc. now owns 99,700 shares of the luxury accessories retailer’s stock valued at $4,121,000 after buying an additional 2,600 shares in the last quarter. CWM LLC raised its stake in Coach by 104.1% in the first quarter. CWM LLC now owns 128,720 shares of the luxury accessories retailer’s stock valued at $5,320,000 after buying an additional 65,659 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Coach during the fourth quarter valued at about $712,000. CAPROCK Group Inc. raised its stake in Coach by 5.8% in the first quarter. CAPROCK Group Inc. now owns 19,903 shares of the luxury accessories retailer’s stock valued at $823,000 after buying an additional 1,096 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Coach by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,105,158 shares of the luxury accessories retailer’s stock valued at $38,703,000 after buying an additional 8,380 shares in the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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