Jefferies Group LLC set a $42.00 price objective on Coach, Inc. (NYSE:COH) in a report published on Tuesday. The brokerage currently has a hold rating on the luxury accessories retailer’s stock. Jefferies Group also issued estimates for Coach’s Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.95 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $2.35 EPS and FY2019 earnings at $2.75 EPS.
A number of other research analysts also recently issued reports on the stock. Credit Suisse Group restated an outperform rating and issued a $51.00 price target (down previously from $55.00) on shares of Coach in a research report on Wednesday. Royal Bank Of Canada dropped their price target on shares of Coach from $50.00 to $46.00 and set an outperform rating on the stock in a research report on Wednesday. Oppenheimer Holdings, Inc. set a $55.00 price target on shares of Coach and gave the stock a buy rating in a research report on Tuesday. Vetr upgraded shares of Coach from a sell rating to a hold rating and set a $45.98 price target on the stock in a research report on Monday, August 14th. Finally, UBS AG restated a buy rating and issued a $50.00 price target (down previously from $55.00) on shares of Coach in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $47.92.
Shares of Coach (NYSE:COH) opened at 40.38 on Tuesday. The company has a market capitalization of $11.37 billion, a P/E ratio of 19.32 and a beta of 0.45. The company’s 50 day moving average is $46.81 and its 200-day moving average is $42.95. Coach has a 1-year low of $34.07 and a 1-year high of $48.85.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 EPS. On average, equities research analysts forecast that Coach will post $2.39 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.34%. Coach’s payout ratio is 64.59%.
In other news, insider Sarah Dunn sold 7,595 shares of the company’s 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 sale, the insider now owns 74,627 shares in the company, valued at approximately $3,438,065.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total transaction of $137,627.28. Following the completion of the sale, the insider now owns 43,198 shares of the company’s stock, valued at approximately $1,989,699.88. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Several hedge funds have recently bought and sold shares of COH. Vanguard Group Inc. raised its stake in Coach by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,909,152 shares of the luxury accessories retailer’s stock valued at $1,368,559,000 after buying an additional 926,068 shares during the last quarter. BlackRock Inc. raised its stake in Coach by 0.5% in the second quarter. BlackRock Inc. now owns 17,761,037 shares of the luxury accessories retailer’s stock valued at $840,807,000 after buying an additional 86,847 shares during the last quarter. State Street Corp raised its stake in Coach by 1.7% in the first quarter. State Street Corp now owns 12,130,432 shares of the luxury accessories retailer’s stock valued at $501,354,000 after buying an additional 198,818 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Coach by 19.9% in the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Coach by 13.6% in the second quarter. Jennison Associates LLC now owns 4,637,031 shares of the luxury accessories retailer’s stock worth $219,517,000 after buying an additional 553,533 shares during the period. Hedge funds and other institutional investors own 88.44% of the company’s stock.
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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