Vetr upgraded shares of Coach, Inc. (NYSE:COH) from a sell rating to a hold rating in a report released on Monday, July 31st. Vetr currently has $45.98 price objective on the luxury accessories retailer’s stock.
Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada restated a buy rating and set a $45.00 price objective on shares of Coach in a report on Wednesday, May 3rd. Instinet reiterated a buy rating and issued a $45.00 target price (up previously from $40.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Coach in a research note on Thursday, April 6th. Piper Jaffray Companies set a $43.00 target price on shares of Coach and gave the stock a buy rating in a research note on Wednesday, April 12th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $53.00 target price on shares of Coach in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $47.92.
Shares of Coach (COH) opened at 40.38 on Monday. Coach has a one year low of $34.07 and a one year high of $48.85. The company’s 50 day moving average is $46.81 and its 200-day moving average is $42.95. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 19.32 and a beta of 0.45.
Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. 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 prior year, the company posted $0.45 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts expect that Coach will post $2.39 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend yield of 3.34%. The ex-dividend date is Thursday, September 7th. Coach’s payout ratio is 64.59%.
In related news, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were 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 directly owns 43,198 shares in the company, valued at $1,989,699.88. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
A number of large investors have recently made changes to their positions in COH. Stratos Wealth Partners LTD. increased its stake in shares of Coach by 0.3% in the second quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock worth $482,000 after buying an additional 32 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Coach by 0.5% in the first quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock worth $283,000 after buying an additional 34 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Coach by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock worth $451,000 after buying an additional 47 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in shares of Coach by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 8,403 shares of the luxury accessories retailer’s stock worth $347,000 after buying an additional 49 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Coach by 0.5% in the second quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock worth $487,000 after buying an additional 53 shares in the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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