Coach Target of Unusually Large Options Trading (COH)
Coach, Inc. (NYSE:COH) saw unusually large options trading on Monday. Investors acquired 8,123 put options on the stock. This is an increase of approximately 566% compared to the average volume of 1,219 put options.
Shares of Coach (COH) opened at 40.72 on Thursday. Coach has a 12-month low of $34.07 and a 12-month high of $48.85. The company has a market cap of $11.45 billion, a P/E ratio of 21.99 and a beta of 0.45. The company has a 50-day moving average price of $47.17 and a 200-day moving average price of $42.94.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.45 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict that Coach will post $2.46 earnings per share for the current year.
The business also recently declared 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 of this dividend is Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a yield of 3.32%. Coach’s dividend payout ratio (DPR) is currently 64.59%.
In other news, insider Sarah Dunn sold 7,595 shares of Coach stock in a transaction that occurred 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 sale, the insider now owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andre Cohen sold 2,988 shares of Coach stock in a transaction that occurred 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 in the company, valued at approximately $1,989,699.88. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware acquired a new position in shares of Coach during the second quarter worth $115,000. Dupont Capital Management Corp bought a new stake in Coach during the second quarter worth approximately $118,000. 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 period. Tompkins Financial Corp bought a new stake in Coach during the first quarter worth approximately $120,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in Coach during the first quarter worth approximately $153,000. Institutional investors and hedge funds own 88.44% of the company’s stock.
Several analysts have recently weighed in on the company. UBS AG reissued a “buy” rating and set a $55.00 price objective (up previously from $49.00) on shares of Coach in a report on Thursday, May 25th. OTR Global raised Coach to a “positive” rating in a research note on Friday, July 21st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $40.00 price target (up previously from $39.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies boosted their price target on Coach from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the stock. Coach has a consensus rating of “Buy” and a consensus 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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