Coach Inc (COH) Reaches New 12-Month High at $48.75
Coach Inc (NYSE:COH) hit a new 52-week high on Friday . The company traded as high as $48.75 and last traded at $48.80, with a volume of 986,135 shares trading hands. The stock had previously closed at $48.08.
A number of brokerages have weighed in on COH. UBS AG reiterated a “buy” rating and set a $47.00 price target on shares of Coach in a research report on Wednesday, April 26th. BlueFin Research set a $46.00 price target on shares of Coach and gave the company a “buy” rating in a research report on Saturday, April 1st. Credit Suisse Group AG set a $55.00 price target on shares of Coach and gave the company a “buy” rating in a research report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a “buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG upgraded shares of Coach to a “buy” rating in a research report on Saturday, July 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.44.
The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 26.32 and a beta of 0.45. The company’s 50-day moving average price is $46.90 and its 200 day moving average price is $41.42.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Coach had a return on equity of 17.19% and a net margin of 12.28%. The firm had revenue of $995.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts predict that Coach Inc will post $2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 9th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Wednesday, June 7th. Coach’s dividend payout ratio (DPR) is presently 72.97%.
In related news, Director Susan J. Kropf sold 4,239 shares of the firm’s stock in a transaction 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 in the company, valued at $1,699,238.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Kahn sold 19,450 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total value of $884,002.50. Following the transaction, the chief accounting officer now owns 98,343 shares in the company, valued at $4,469,689.35. The disclosure for this sale can be found here. Insiders have sold 44,359 shares of company stock worth $2,023,928 over the last 90 days. 0.81% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Ibex Wealth Advisors purchased a new position in shares of Coach during the fourth quarter valued at about $102,000. Tompkins Financial Corp bought a new stake in Coach during the first quarter worth about $120,000. Winslow Evans & Crocker Inc. boosted its stake in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in Coach during the first quarter worth about $153,000. Finally, NEXT Financial Group Inc boosted its stake in Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock worth $199,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.
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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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