Coach, Inc. (NYSE:COH) Given a $42.00 Price Target at BMO Capital Markets
Coach, Inc. (NYSE:COH) has been assigned a $42.00 target price by research analysts at BMO Capital Markets in a research report issued on Thursday. The firm currently has a “hold” rating on the luxury accessories retailer’s stock. BMO Capital Markets’ price target would indicate a potential downside of 10.03% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Instinet reissued a “buy” rating and issued a $45.00 price target (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 price target on the stock in a report on Monday, March 20th. Deutsche Bank AG lowered their price target 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 price target 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 price target on shares of Coach in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $48.12.
Shares of Coach (NYSE:COH) traded up 1.99% during midday trading on Thursday, hitting $47.61. The stock had a trading volume of 1,575,263 shares. Coach has a 1-year low of $34.07 and a 1-year high of $47.76. The firm has a market capitalization of $13.38 billion, a PE ratio of 25.71 and a beta of 0.45. The company’s 50 day moving average price is $46.15 and its 200-day moving average price is $40.23.
Coach (NYSE:COH) last issued its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $995.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. Coach had a net margin of 11.55% and a return on equity of 21.36%. Coach’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Equities analysts predict that Coach will post $2.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 9th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Wednesday, June 7th. Coach’s payout ratio is 72.97%.
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In other news, insider Sarah Dunn sold 7,595 shares of Coach stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total transaction of $349,901.65. Following the completion of the transaction, the insider now directly owns 74,627 shares in the company, valued at $3,438,065.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Kahn sold 19,450 shares of Coach stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $45.45, for a total transaction of $884,002.50. Following the transaction, the chief accounting officer now owns 98,343 shares of the company’s stock, valued at $4,469,689.35. The disclosure for this sale can be found here. Insiders sold 44,359 shares of company stock valued at $2,023,928 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ibex Wealth Advisors acquired a new position in shares of Coach during the fourth quarter worth about $102,000. Tompkins Financial Corp acquired a new position in shares of Coach during the first quarter worth about $120,000. NINE MASTS CAPITAL Ltd acquired a new position in shares of Coach during the first quarter worth about $153,000. MUFG Securities EMEA plc acquired a new position in shares of Coach during the first quarter worth about $201,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Coach during the first quarter worth about $204,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.
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.
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