Guggenheim initiated coverage on shares of Coach Inc. (NYSE:COH) in a report released on Friday morning. The brokerage issued a buy rating and a $50.00 price objective on the luxury accessories retailer’s stock.
COH has been the subject of several other reports. Piper Jaffray Cos. reiterated an overweight rating and set a $46.00 price objective on shares of Coach in a research note on Tuesday, August 30th. Jefferies Group restated a buy rating on shares of Coach in a research report on Friday, September 2nd. Credit Agricole SA began coverage on shares of Coach in a research report on Wednesday, September 28th. They set a buy rating and a $45.00 target price for the company. Cowen and Company restated an outperform rating on shares of Coach in a research report on Tuesday, August 23rd. Finally, TheStreet downgraded shares of Coach from a buy rating to a hold rating in a research report on Friday, June 24th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have issued a buy rating to the company. Coach currently has a consensus rating of Hold and a consensus price target of $42.13.
Coach (NYSE:COH) opened at 36.56 on Friday. The firm’s 50 day moving average is $37.69 and its 200 day moving average is $39.49. Coach has a 12-month low of $28.70 and a 12-month high of $43.71. The company has a market cap of $10.20 billion, a P/E ratio of 22.16 and a beta of 0.90.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Coach will post $2.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.3375 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a yield of 3.69%. Coach’s dividend payout ratio (DPR) is presently 81.82%.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in Coach by 1,307.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the luxury accessories retailer’s stock worth $129,000 after buying an additional 2,941 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of Coach during the second quarter worth approximately $140,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of Coach by 132.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,763 shares of the luxury accessories retailer’s stock worth $153,000 after buying an additional 2,146 shares in the last quarter. M&R Capital Management Inc. purchased a new stake in shares of Coach during the second quarter worth approximately $154,000. Finally, Global X Management Co. LLC increased its stake in shares of Coach by 255.6% in the second quarter. Global X Management Co. LLC now owns 4,072 shares of the luxury accessories retailer’s stock worth $166,000 after buying an additional 2,927 shares in the last quarter. Institutional investors own 89.72% of the company’s stock.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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