Coach, Inc. (COH) Receives Average Recommendation of “Buy” from Brokerages
Coach, Inc. (NYSE:COH) has been given a consensus recommendation of “Buy” by the thirty-one research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.27.
COH has been the topic of several recent analyst reports. Instinet reissued a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Coach in a report on Wednesday, May 3rd. Vetr raised shares of Coach from a “hold” rating to a “buy” rating and set a $41.20 target price on the stock in a report on Monday, March 20th. Deutsche Bank AG decreased their target price on shares of Coach from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Tuesday, April 25th. Piper Jaffray Companies set a $43.00 target price on shares of Coach and gave the company a “buy” rating in a report on Wednesday, April 12th. Finally, Wedbush reissued a “neutral” rating and issued a $38.00 target price on shares of Coach in a report on Tuesday, March 21st.
In other news, Director Susan J. Kropf sold 4,239 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $45.99, for a total value of $194,951.61. Following the transaction, the director now owns 36,948 shares in the company, valued at approximately $1,699,238.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total transaction of $884,002.50. Following the completion of the transaction, the chief accounting officer now owns 98,343 shares in the company, valued at approximately $4,469,689.35. The disclosure for this sale can be found here. Insiders sold a total of 44,359 shares of company stock worth $2,023,928 in the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COH. Dodge & Cox bought a new position in Coach during the fourth quarter worth about $532,034,000. Allianz Asset Management AG increased its position in Coach by 1,429.3% in the fourth quarter. Allianz Asset Management AG now owns 166,505 shares of the luxury accessories retailer’s stock worth $5,831,000 after buying an additional 155,617 shares during the last quarter. Cullinan Associates Inc. increased its position in Coach by 2.7% in the first quarter. Cullinan Associates Inc. now owns 99,700 shares of the luxury accessories retailer’s stock worth $4,121,000 after buying an additional 2,600 shares during the last quarter. CWM LLC increased its position in Coach by 104.1% in the first quarter. CWM LLC now owns 128,720 shares of the luxury accessories retailer’s stock worth $5,320,000 after buying an additional 65,659 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new position in Coach during the fourth quarter worth about $712,000. Institutional investors own 88.82% of the company’s stock.
Shares of Coach (NYSE COH) opened at 47.26 on Tuesday. The company has a market capitalization of $13.29 billion, a PE ratio of 25.52 and a beta of 0.36. The firm’s 50-day moving average is $45.53 and its 200 day moving average is $39.81. Coach has a 52 week low of $34.07 and a 52 week high of $47.76.
Coach (NYSE:COH) last released its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Coach had a net margin of 11.55% and a return on equity of 21.36%. The firm had revenue of $995.20 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm earned $0.44 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Coach will post $2.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th will be given a $0.3375 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.86%. Coach’s dividend payout ratio (DPR) is currently 72.97%.
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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