Coach Inc. (COH) Stock Rating Reaffirmed by Wells Fargo & Co.
Coach Inc. (NYSE:COH)‘s stock had its “outperform” rating restated by equities research analysts at Wells Fargo & Co. in a report issued on Wednesday. They currently have a $47.00 target price on the luxury accessories retailer’s stock. Wells Fargo & Co.’s price objective suggests a potential upside of 28.77% from the company’s previous close.
A number of other equities research analysts also recently issued reports on COH. Zacks Investment Research upgraded Coach from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, June 29th. Argus restated a “hold” rating on shares of Coach in a research note on Saturday, August 13th. Telsey Advisory Group upgraded Coach from a “market perform” rating to an “outperform” rating and set a $49.00 price target for the company in a research note on Friday, August 5th. Stifel Nicolaus restated a “hold” rating on shares of Coach in a research note on Thursday, August 11th. Finally, Piper Jaffray Cos. restated a “buy” rating and set a $47.00 price target on shares of Coach in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.13.
Shares of Coach (NYSE:COH) traded down 0.19% during midday trading on Wednesday, reaching $36.50. 2,187,084 shares of the company were exchanged. The stock has a market capitalization of $10.18 billion, a P/E ratio of 22.12 and a beta of 0.90. The company has a 50 day moving average price of $37.29 and a 200-day moving average price of $39.40. Coach has a 12-month low of $28.70 and a 12-month high of $43.71.
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Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. Coach had a return on equity of 21.32% and a net margin of 10.25%. The company earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $0.31 EPS. Coach’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts forecast that Coach will post $2.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, September 8th. Coach’s payout ratio is 81.82%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Coach during the second quarter valued at about $48,321,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Coach during the first quarter valued at about $45,839,000. FMR LLC boosted its position in shares of Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock valued at $584,978,000 after buying an additional 927,743 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Coach by 1,271.3% in the second quarter. Janus Capital Management LLC now owns 970,227 shares of the luxury accessories retailer’s stock valued at $39,527,000 after buying an additional 899,476 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Coach by 3.2% in the second quarter. Vanguard Group Inc. now owns 24,943,401 shares of the luxury accessories retailer’s stock valued at $1,016,194,000 after buying an additional 778,882 shares during the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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