Coach, Inc. (NYSE:COH) was the recipient of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 9,754,390 shares, a growth of 37.9% from the September 15th total of 7,071,981 shares. Based on an average trading volume of 3,152,109 shares, the days-to-cover ratio is presently 3.1 days. Currently, 3.5% of the shares of the stock are sold short.

In related news, SVP Melinda Brown sold 8,250 shares of Coach stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares in the company, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Coach in the 2nd quarter worth about $115,000. Dupont Capital Management Corp purchased a new position in shares of Coach in the 2nd quarter worth about $118,000. Winslow Evans & Crocker Inc. raised its holdings in shares of Coach by 18.1% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after purchasing an additional 400 shares during the period. Seven Eight Capital LP purchased a new position in shares of Coach in the 2nd quarter worth about $188,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Coach in the 2nd quarter worth about $192,000. Institutional investors own 85.85% of the company’s stock.

Coach (NYSE:COH) opened at 39.57 on Friday. The firm has a 50-day moving average price of $40.48 and a 200 day moving average price of $43.59. The firm has a market capitalization of $11.18 billion, a P/E ratio of 18.93 and a beta of 0.44. Coach has a 52-week low of $34.07 and a 52-week high of $48.85.

Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. Analysts forecast that Coach will post $2.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.41%. Coach’s dividend payout ratio (DPR) is 64.59%.

A number of equities research analysts recently issued reports on the stock. OTR Global raised shares of Coach to a “positive” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Cowen and Company reissued a “buy” rating and issued a $46.00 price target on shares of Coach in a research note on Thursday, September 28th. BMO Capital Markets set a $42.00 price target on shares of Coach and gave the company a “hold” rating in a research note on Thursday, July 6th. Finally, Buckingham Research upgraded Coach from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.00 to $58.00 in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Coach presently has an average rating of “Buy” and a consensus target price of $47.28.

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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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