Traders Buy Shares of Coach, Inc. (COH) on Weakness
Investors bought shares of Coach, Inc. (NYSE:COH) on weakness during trading hours on Tuesday. $42.97 million flowed into the stock on the tick-up and $25.37 million flowed out of the stock on the tick-down, for a money net flow of $17.60 million into the stock. Of all stocks tracked, Coach had the 18th highest net in-flow for the day. Coach traded down ($0.84) for the day and closed at $39.83
Several research analysts have weighed in on the stock. OTR Global upgraded shares of Coach to a “positive” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Cowen and Company reissued a “buy” rating and issued a $46.00 target price on shares of Coach in a research report on Thursday, September 28th. Buckingham Research raised shares of Coach from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $58.00 in a research report on Monday, June 26th. Finally, BMO Capital Markets set a $42.00 target price on shares of Coach and gave the stock a “hold” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company’s stock. Coach presently has a consensus rating of “Buy” and a consensus target price of $47.56.
The firm has a market capitalization of $11.22 billion, a P/E ratio of 19.00 and a beta of 0.44. The stock’s 50-day moving average price is $40.78 and its 200 day moving average price is $43.58.
Coach (NYSE:COH) last announced its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. Coach’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, equities analysts forecast that Coach, Inc. will post $2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.3375 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.40%. Coach’s payout ratio is presently 64.59%.
In other news, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the sale, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
Several 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 valued at $1,368,559,000 after acquiring an additional 926,068 shares during the period. 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 valued at $840,807,000 after acquiring an additional 86,847 shares during the period. 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 valued at $501,354,000 after acquiring an additional 198,818 shares during the period. 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 valued at $219,517,000 after acquiring an additional 553,533 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Coach by 9.3% in the first quarter. Geode Capital Management LLC now owns 2,760,281 shares of the luxury accessories retailer’s stock valued at $113,917,000 after acquiring an additional 235,168 shares during the period. 86.32% of the stock is 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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