Coach, Inc. (COH) Downgraded by Piper Jaffray Companies
Piper Jaffray Companies downgraded shares of Coach, Inc. (NYSE:COH) from an overweight rating to a neutral rating in a report published on Thursday, MarketBeat reports. They currently have $43.00 price objective on the luxury accessories retailer’s stock, down from their previous price objective of $48.00.
COH has been the topic of a number of other reports. Vetr downgraded shares of Coach from a hold rating to a sell rating and set a $45.98 price target on the stock. in a research report on Monday, August 7th. UBS AG cut their price target on shares of Coach from $55.00 to $50.00 and set a buy rating on the stock in a research report on Thursday, August 17th. Canaccord Genuity started coverage on shares of Coach in a research report on Friday, June 30th. They issued a buy rating and a $59.00 price target on the stock. MKM Partners started coverage on shares of Coach in a research report on Monday, July 10th. They issued a buy rating and a $50.00 price target on the stock. Finally, Cowen and Company reiterated a buy rating and issued a $46.00 price target on shares of Coach in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $47.06.
Coach (NYSE COH) traded up 0.05% during midday trading on Thursday, hitting $39.83. 3,082,062 shares of the stock were exchanged. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 19.06 and a beta of 0.44. Coach has a one year low of $34.07 and a one year high of $48.85. The company has a 50 day moving average price of $40.72 and a 200 day moving average price of $43.56.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $1.13 billion for 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%. Coach’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. Equities analysts anticipate that Coach will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.3375 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.39%. Coach’s dividend payout ratio is presently 64.59%.
In related news, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the transaction, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd Kahn sold 4,586 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC boosted its position in Coach by 3,720.0% during the second quarter. Archford Capital Strategies LLC now owns 1,910 shares of the luxury accessories retailer’s stock worth $217,000 after purchasing an additional 1,860 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in Coach during the second quarter worth $115,000. Dupont Capital Management Corp bought a new position in Coach during the second quarter worth $118,000. Winslow Evans & Crocker Inc. boosted its position in Coach by 18.1% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after purchasing an additional 400 shares during the period. Finally, Seven Eight Capital LP bought a new position in Coach during the second quarter worth $188,000. 86.32% of the stock is owned by hedge funds and other institutional investors.
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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