Coach, Inc. (COH) Research Coverage Started at MKM Partners
Equities researchers at MKM Partners began coverage on shares of Coach, Inc. (NYSE:COH) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $50.00 price target on the luxury accessories retailer’s stock. MKM Partners’ price target would indicate a potential upside of 5.11% from the stock’s previous close.
A number of other research firms have also recently weighed in on COH. BlueFin Research set a $46.00 price target on Coach and gave the stock a “buy” rating in a report on Saturday, April 1st. Goldman Sachs Group, Inc. (The) upgraded Coach to a “buy” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Coach in a report on Tuesday, July 4th. Piper Jaffray Companies set a $47.00 price target on Coach and gave the stock a “buy” rating in a report on Wednesday, May 17th. Finally, Canaccord Genuity started coverage on Coach in a report on Friday, June 30th. They issued a “buy” rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $48.19.
Shares of Coach (COH) traded down 0.23% during mid-day trading on Monday, reaching $47.57. The company’s stock had a trading volume of 2,618,253 shares. Coach has a 1-year low of $34.07 and a 1-year high of $47.87. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 25.69 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, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $995.20 million during the quarter, compared to the consensus estimate of $1.02 billion. Coach had a return on equity of 21.36% and a net margin of 11.55%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. Analysts predict that Coach will post $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were given a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Wednesday, June 7th. Coach’s dividend payout ratio (DPR) is currently 72.97%.
In related news, insider Andre Cohen sold 10,087 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $45.35, for a total value of $457,445.45. Following the transaction, the insider now directly owns 46,186 shares of the company’s stock, valued at approximately $2,094,535.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan J. Kropf sold 4,239 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $45.99, for a total value of $194,951.61. Following the completion of the transaction, the director now directly owns 36,948 shares in the company, valued at $1,699,238.52. The disclosure for this sale can be found here. Insiders sold a total of 44,359 shares of company stock worth $2,023,928 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ibex Wealth Advisors purchased a new position in shares of Coach during the fourth quarter valued at $102,000. Tompkins Financial Corp purchased a new position in shares of Coach during the first quarter valued at $120,000. NINE MASTS CAPITAL Ltd purchased a new position in shares of Coach during the first quarter valued at $153,000. MUFG Securities EMEA plc purchased a new position in shares of Coach during the first quarter valued at $201,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Coach during the first quarter valued at $204,000. 88.47% of the stock is currently owned by institutional investors and hedge funds.
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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