Insider Selling: Coach, Inc. (COH) SVP Sells 8,250 Shares of Stock
Coach, Inc. (NYSE:COH) SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the transaction, the senior vice president now directly owns 42,884 shares in the company, valued at $1,770,251.52. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Coach, Inc. (NYSE:COH) traded down 1.07% during trading on Thursday, reaching $41.65. The company’s stock had a trading volume of 2,057,278 shares. The company has a 50 day moving average price of $43.53 and a 200 day moving average price of $43.41. Coach, Inc. has a 52 week low of $34.07 and a 52 week high of $48.85. The firm has a market capitalization of $11.77 billion, a P/E ratio of 19.93 and a beta of 0.44.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Coach, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, September 7th. Coach’s dividend payout ratio is presently 64.59%.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sentry Investment Management LLC boosted its holdings in Coach by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 13,382 shares of the luxury accessories retailer’s stock valued at $634,000 after purchasing an additional 142 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Coach by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 95,230 shares of the luxury accessories retailer’s stock valued at $4,507,000 after purchasing an additional 19,508 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Coach by 3,720.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,910 shares of the luxury accessories retailer’s stock valued at $217,000 after purchasing an additional 1,860 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Coach in the 2nd quarter valued at approximately $257,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Coach in the 2nd quarter valued at approximately $1,534,000. 86.35% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on COH shares. OTR Global raised Coach to a “positive” rating in a research report on Friday, July 21st. Buckingham Research raised Coach from a “neutral” rating to a “buy” rating and upped their target price for the company from $45.00 to $58.00 in a research report on Monday, June 26th. BMO Capital Markets set a $42.00 target price on Coach and gave the company a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC set a $53.00 target price on Coach and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Canaccord Genuity started coverage on Coach in a research report on Friday, June 30th. They set a “buy” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $48.03.
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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