Coach, Inc. (COH) Earns Hold Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Coach, Inc. (NYSE:COH) in a research note issued to investors on Saturday morning. The firm currently has a $42.00 target price on the luxury accessories retailer’s stock.
COH has been the subject of several other research reports. Vetr cut shares of Coach from a hold rating to a sell rating and set a $45.98 price objective for the company. in a research note on Monday, August 7th. UBS AG reduced their price objective on shares of Coach from $55.00 to $50.00 and set a buy rating for the company in a research note on Thursday, August 17th. MKM Partners initiated coverage on shares of Coach in a research note on Monday, July 10th. They set a buy rating and a $50.00 price objective for the company. Canaccord Genuity initiated coverage on shares of Coach in a research note on Friday, June 30th. They set a buy rating and a $59.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $48.00 price objective (down previously from $52.00) on shares of Coach in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $48.03.
Coach (NYSE COH) opened at 40.47 on Friday. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 19.36 and a beta of 0.44. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. The firm’s 50 day moving average is $43.11 and its 200-day moving average is $43.52.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Coach will post $2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued 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 3.34%. Coach’s dividend payout ratio is currently 64.59%.
In related news, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares in the company, valued at approximately $1,770,251.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Kahn sold 4,586 shares of the company’s 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 sale, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
A number of large investors have recently bought and sold shares of COH. Mckinley Capital Management LLC Delaware bought a new stake in Coach during the 2nd quarter valued at $115,000. Dupont Capital Management Corp bought a new stake in Coach during the 2nd quarter valued at $118,000. Winslow Evans & Crocker Inc. increased its position in Coach by 18.1% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after purchasing an additional 400 shares during the period. NINE MASTS CAPITAL Ltd purchased a new position in Coach during the 1st quarter valued at $153,000. Finally, Seven Eight Capital LP purchased a new position in Coach during the 2nd quarter valued at $188,000. Institutional investors own 86.32% of the company’s stock.
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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