Sarah Dunn Sells 7,595 Shares of Coach Inc (COH) Stock
Coach Inc (NYSE:COH) insider Sarah Dunn sold 7,595 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total value of $349,901.65. Following the transaction, the insider now owns 74,627 shares in the company, valued at approximately $3,438,065.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Coach Inc (NYSE:COH) traded down 0.09% during trading on Thursday, reaching $46.07. 1,924,558 shares of the company’s stock traded hands. Coach Inc has a 12-month low of $34.07 and a 12-month high of $46.78. The company has a 50 day moving average price of $42.28 and a 200-day moving average price of $38.67. The company has a market cap of $12.95 billion, a PE ratio of 24.88 and a beta of 0.49.
Coach (NYSE:COH) last posted its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The firm had revenue of $995.20 million for the quarter, compared to the consensus estimate of $1.02 billion. Coach had a net margin of 11.24% and a return on equity of 21.66%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. On average, equities research analysts forecast that Coach Inc will post $2.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 9th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, June 7th. Coach’s payout ratio is currently 74.18%.
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Several analysts recently weighed in on the company. BlueFin Research set a $46.00 price target on Coach and gave the stock a “buy” rating in a research note on Saturday, April 1st. Credit Suisse Group AG set a $55.00 price target on Coach and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Vetr downgraded Coach from a “strong-buy” rating to a “buy” rating and set a $46.00 price target on the stock. in a research note on Tuesday, May 2nd. Goldman Sachs Group Inc restated a “neutral” rating and issued a $40.00 price target (up previously from $36.00) on shares of Coach in a research note on Wednesday, May 3rd. Finally, Instinet restated a “buy” rating and issued a $55.00 price target on shares of Coach in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Coach has an average rating of “Buy” and a consensus target price of $46.36.
A number of hedge funds and other institutional investors have recently modified their holdings of COH. Ibex Wealth Advisors purchased a new stake in shares of Coach during the fourth quarter valued at $102,000. Tompkins Financial Corp purchased a new stake in shares of Coach during the first quarter valued at $120,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Coach during the first quarter valued at $153,000. MUFG Securities EMEA plc purchased a new stake in shares of Coach during the first quarter valued at $201,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Coach during the first quarter valued at $204,000. 87.23% of the stock is currently owned by institutional investors.
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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