Oppenheimer Holdings, Inc. Analysts Give Coach, Inc. (COH) a $55.00 Price Target
Oppenheimer Holdings, Inc. set a $55.00 price objective on Coach, Inc. (NYSE:COH) in a research note published on Tuesday. The firm currently has a buy rating on the luxury accessories retailer’s stock.
Several other analysts have also issued reports on the company. UBS AG reissued a buy rating and set a $47.00 target price on shares of Coach in a report on Wednesday, April 26th. BMO Capital Markets set a $42.00 price objective on Coach and gave the company a hold rating in a research note on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised Coach to a buy rating in a research note on Saturday, July 1st. Piper Jaffray Companies set a $47.00 target price on Coach and gave the company a buy rating in a research report on Wednesday, May 17th. Finally, Vetr downgraded Coach from a hold rating to a sell rating and set a $45.98 target price for the company. in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $48.08.
Coach (NYSE COH) traded up 0.997% during midday trading on Tuesday, reaching $41.045. 2,270,336 shares of the company’s stock were exchanged. The company has a market cap of $11.54 billion, a P/E ratio of 22.163 and a beta of 0.45. The company has a 50 day moving average price of $47.36 and a 200 day moving average price of $42.95. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. Coach also was the recipient of some unusual options trading on Monday. Stock investors bought 8,123 put options on the company. This is an increase of 566% compared to the average volume of 1,219 put options.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Coach had a return on equity of 21.36% and a net margin of 11.55%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Coach will post $2.15 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 annualized dividend and a yield of 3.32%. Coach’s dividend payout ratio is 72.97%.
In other news, 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 transaction, the insider now directly owns 43,198 shares in the company, valued at approximately $1,989,699.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $349,901.65. Following the completion of the transaction, the insider now owns 74,627 shares in the company, valued at $3,438,065.89. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Coach by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,909,152 shares of the luxury accessories retailer’s stock worth $1,368,559,000 after buying an additional 926,068 shares in the last quarter. BlackRock Inc. boosted its position in shares of Coach by 0.5% in the second quarter. BlackRock Inc. now owns 17,761,037 shares of the luxury accessories retailer’s stock worth $840,807,000 after buying an additional 86,847 shares in the last quarter. State Street Corp boosted its position in shares of Coach by 1.7% in the first quarter. State Street Corp now owns 12,130,432 shares of the luxury accessories retailer’s stock worth $501,354,000 after buying an additional 198,818 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Coach by 19.9% in the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Coach by 13.6% in the second quarter. Jennison Associates LLC now owns 4,637,031 shares of the luxury accessories retailer’s stock worth $219,517,000 after buying an additional 553,533 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors.
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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