Investors Buy High Volume of Coach Put Options (COH)
Coach, Inc. (NYSE:COH) saw some unusual options trading on Monday. Stock investors purchased 8,123 put options on the stock. This represents an increase of 566% compared to the typical daily volume of 1,219 put options.
Coach (COH) opened at 40.72 on Thursday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 21.99 and a beta of 0.45. Coach has a 12-month low of $34.07 and a 12-month high of $48.85. The firm’s 50-day moving average price is $47.17 and its 200 day moving average price is $42.94.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Coach will post $2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.32%. Coach’s dividend payout ratio is 64.59%.
In other news, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total transaction of $349,901.65. Following the completion of the sale, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the sale, the insider now directly owns 43,198 shares of the company’s stock, valued at $1,989,699.88. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its stake in shares of Coach by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 343,688 shares of the luxury accessories retailer’s stock worth $12,036,000 after buying an additional 20,128 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Coach by 71.4% in the fourth quarter. Macquarie Group Ltd. now owns 16,800 shares of the luxury accessories retailer’s stock worth $589,000 after buying an additional 7,000 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Coach by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 82,887 shares of the luxury accessories retailer’s stock worth $3,425,000 after buying an additional 1,360 shares during the last quarter. National Pension Service boosted its stake in shares of Coach by 11.8% in the first quarter. National Pension Service now owns 285,055 shares of the luxury accessories retailer’s stock worth $11,884,000 after buying an additional 30,158 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Coach during the first quarter worth about $120,000. Institutional investors own 88.44% of the company’s stock.
Several research firms have recently weighed in on COH. UBS AG reissued a “buy” rating and set a $55.00 price objective (up from $49.00) on shares of Coach in a research note on Thursday, May 25th. OTR Global raised Coach to a “positive” rating in a research note on Friday, July 21st. Deutsche Bank AG reissued a “hold” rating and set a $40.00 price objective (up from $39.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies raised their price objective on Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the stock. Coach presently has a consensus rating of “Buy” and an average target price of $47.92.
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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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