Coach Sees Unusually Large Options Volume (COH)
Shares of Coach (NYSE:COH) were the target of some unusual options trading on Wednesday. Investors purchased 9,032 put options on the company, American Banking News reports. This is an increase of approximately 159% compared to the average volume of 3,490 put options.
COH has been the subject of a number of recent research reports. Analysts at Sterne Agee downgraded shares of Coach from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $41.00 price target on the stock, down previously from $51.00. Separately, analysts at Renaissance Capital upgraded shares of Coach from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $54.00 price target on the stock. Finally, analysts at ING Group initiated coverage on shares of Coach in a research note on Tuesday, May 20th. They set a “hold” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company’s stock. Coach presently has a consensus rating of “Hold” and an average target price of $50.90.
Shares of Coach (NYSE:COH) traded down 2.58% on Wednesday, hitting $38.99. 9,214,904 shares of the company’s stock traded hands. Coach has a 52 week low of $40.11 and a 52 week high of $59.58. The stock has a 50-day moving average of $44.07 and a 200-day moving average of $49.63. The company has a market cap of $10.690 billion and a price-to-earnings ratio of 12.21.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.61 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $0.84 earnings per share. Coach’s revenue was down 7.4% compared to the same quarter last year. Analysts expect that Coach will post $3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, June 4th.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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