Coach Inc to Issue Quarterly Dividend of $0.34 (COH)
Coach Inc (NYSE:COH) declared a quarterly dividend on Friday, May 19th. Investors of record on Friday, June 9th will be paid a dividend of 0.3375 per share by the luxury accessories retailer on Wednesday, July 5th. This represents a $1.35 annualized dividend and a yield of 3.02%.
Coach has increased its dividend by an average of 1.3% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Coach has a payout ratio of 62.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Coach to earn $2.38 per share next year, which means the company should continue to be able to cover its $1.35 annual dividend with an expected future payout ratio of 56.7%.
Shares of Coach (NYSE:COH) traded up 1.444% on Friday, reaching $45.315. The company had a trading volume of 1,328,934 shares. The firm’s 50 day moving average is $41.52 and its 200 day moving average is $38.30. The firm has a market capitalization of $12.74 billion, a PE ratio of 24.468 and a beta of 0.49. Coach has a 12 month low of $34.07 and a 12 month high of $46.56.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $995.20 million for the quarter, compared to analyst estimates of $1.02 billion. Coach had a return on equity of 21.66% and a net margin of 11.24%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities research analysts expect that Coach will post $2.15 earnings per share for the current fiscal year.
In other news, CAO Todd Kahn sold 19,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were 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 directly owns 98,343 shares of the company’s stock, valued at approximately $4,469,689.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan J. Kropf sold 4,239 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.99, for a total transaction of $194,951.61. Following the transaction, the director now directly owns 36,948 shares of the company’s stock, valued at $1,699,238.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,776 shares of company stock valued at $1,536,400. Insiders own 0.81% of the company’s stock.
Several equities analysts have issued reports on COH shares. Vetr raised Coach from a “hold” rating to a “buy” rating and set a $41.20 price objective on the stock in a report on Monday, March 20th. Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Coach in a report on Tuesday, March 21st. Deutsche Bank AG dropped their price objective on 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 objective on Coach and gave the stock a “buy” rating in a report on Wednesday, April 12th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $42.00 price objective on shares of Coach in a report on Monday, April 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company’s stock. Coach has a consensus rating of “Buy” and a consensus price target of $46.36.
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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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