Wells Fargo & Co. restated their outperform rating on shares of Coach Inc. (NYSE:COH) in a research note published on Wednesday morning. The brokerage currently has a $47.00 price objective on the luxury accessories retailer’s stock.
A number of other analysts have also commented on the stock. Morgan Stanley lowered shares of Coach from an equal weight rating to an underweight rating and set a $32.00 target price for the company. in a report on Wednesday, September 14th. Robert W. Baird raised shares of Coach from a neutral rating to an outperform rating and lifted their target price for the stock from $45.00 to $50.00 in a report on Monday, July 18th. Cowen and Company reaffirmed an outperform rating on shares of Coach in a report on Tuesday, August 23rd. Piper Jaffray Cos. reaffirmed an overweight rating and set a $46.00 target price on shares of Coach in a report on Thursday, September 8th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $43.00 target price on shares of Coach in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-two have assigned a buy rating to the company. Coach presently has an average rating of Hold and a consensus price target of $42.13.
Coach (NYSE:COH) opened at 36.50 on Wednesday. Coach has a one year low of $28.70 and a one year high of $43.71. The company has a 50-day moving average price of $37.29 and a 200-day moving average price of $39.40. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 22.12 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 earnings per share for the quarter, topping the 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 firm earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.31 EPS. Coach’s revenue was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Coach will post $2.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s payout ratio is 81.82%.
A number of institutional investors have recently modified their holdings of the stock. Franklin Street Advisors Inc. NC increased its position in shares of Coach by 28.9% in the third quarter. Franklin Street Advisors Inc. NC now owns 144,082 shares of the luxury accessories retailer’s stock valued at $5,268,000 after buying an additional 32,327 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Coach by 7.6% in the third quarter. BNP Paribas Arbitrage SA now owns 183,934 shares of the luxury accessories retailer’s stock valued at $6,725,000 after buying an additional 12,941 shares during the last quarter. Cullinan Associates Inc. increased its position in Coach by 51.9% in the third quarter. Cullinan Associates Inc. now owns 36,000 shares of the luxury accessories retailer’s stock valued at $1,316,000 after buying an additional 12,300 shares during the last quarter. Macquarie Group Ltd. increased its position in Coach by 8.6% in the second quarter. Macquarie Group Ltd. now owns 104,550 shares of the luxury accessories retailer’s stock valued at $4,259,000 after buying an additional 8,300 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Coach during the second quarter valued at about $457,000. 89.29% of the stock is owned by institutional investors and hedge funds.
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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