Credit Suisse Group restated their outperform rating on shares of Coach, Inc. (NYSE:COH) in a research report report published on Wednesday. Credit Suisse Group currently has a $51.00 price target on the luxury accessories retailer’s stock, down from their previous price target of $55.00.
Several other research firms also recently commented on COH. Vetr downgraded Coach from a hold rating to a sell rating and set a $45.98 price objective on the stock. in a research note on Monday, July 24th. Jefferies Group LLC downgraded Coach from a buy rating to a hold rating and dropped their price objective for the company from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global upgraded Coach to a positive rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $55.00 price objective on Coach and gave the company a buy rating in a research note on Tuesday, August 15th. Finally, BMO Capital Markets set a $42.00 price objective on Coach and gave the company a hold rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $47.92.
Coach (NYSE:COH) opened at 40.38 on Wednesday. The stock’s 50 day moving average price is $46.81 and its 200-day moving average price is $42.95. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 19.32 and a beta of 0.45. Coach has a 52 week low of $34.07 and a 52 week high of $48.85.
Coach (NYSE:COH) last announced its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Coach will post $2.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a yield of 3.34%. Coach’s dividend payout ratio is presently 64.59%.
In related news, insider Andre Cohen sold 2,988 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the transaction, the insider now owns 43,198 shares of the company’s stock, valued at $1,989,699.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sarah Dunn sold 7,595 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the completion of the transaction, the insider now directly owns 74,627 shares in the company, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC raised its stake in Coach by 3,720.0% in the second quarter. Archford Capital Strategies LLC now owns 1,910 shares of the luxury accessories retailer’s stock valued at $217,000 after buying an additional 1,860 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Coach during the second quarter valued at about $115,000. Dupont Capital Management Corp acquired a new stake in Coach during the second quarter valued at about $118,000. Winslow Evans & Crocker Inc. raised its stake in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after buying an additional 400 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new stake in Coach during the first quarter valued at about $120,000. 88.44% of the stock is currently owned by institutional investors and hedge funds.
Coach Company Profile
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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