Morgan Stanley cut shares of Coach Inc. (NYSE:COH) from an equal weight rating to an underweight rating in a research note issued to investors on Wednesday morning. They currently have $32.00 price objective on the luxury accessories retailer’s stock.
COH has been the topic of a number of other reports. Jefferies Group reiterated a buy rating on shares of Coach in a research note on Sunday, May 22nd. OTR Global upgraded shares of Coach to a positive rating in a research note on Monday, August 1st. Robert W. Baird upgraded shares of Coach from a neutral rating to an outperform rating and increased their price objective for the company from $45.00 to $50.00 in a research note on Monday, July 18th. Stifel Nicolaus began coverage on shares of Coach in a research note on Tuesday, May 17th. They set a hold rating on the stock. Finally, Cowen and Company reiterated an outperform rating on shares of Coach in a research note on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $41.81.
Shares of Coach (NYSE:COH) opened at 35.94 on Wednesday. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 21.78 and a beta of 0.90. The firm’s 50-day moving average is $39.05 and its 200-day moving average is $39.70. Coach has a 52 week low of $27.22 and a 52 week high of $43.71.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Analysts forecast that Coach will post $2.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, September 8th. Coach’s payout ratio is currently 81.82%.
Large investors have recently made changes to their positions in the company. Conning Inc. increased its stake in shares of Coach by 0.3% in the second quarter. Conning Inc. now owns 6,456 shares of the luxury accessories retailer’s stock valued at $263,000 after buying an additional 20 shares during the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Coach by 0.9% in the second quarter. Ropes Wealth Advisors LLC now owns 10,284 shares of the luxury accessories retailer’s stock valued at $419,000 after buying an additional 96 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Coach by 0.3% in the first quarter. Nuveen Asset Management LLC now owns 30,937 shares of the luxury accessories retailer’s stock valued at $1,240,000 after buying an additional 99 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Coach by 2.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,015 shares of the luxury accessories retailer’s stock valued at $257,000 after buying an additional 160 shares during the last quarter. Finally, Crawford Investment Counsel Inc. increased its stake in shares of Coach by 2.4% in the second quarter. Crawford Investment Counsel Inc. now owns 7,453 shares of the luxury accessories retailer’s stock valued at $304,000 after buying an additional 175 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
Coach Company Profile
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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