Coach Inc (NYSE:COH) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $41.20 target price on the luxury accessories retailer’s stock. Vetr‘s price target suggests a potential upside of 5.24% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Companies set a $44.00 target price on shares of Coach and gave the stock a “buy” rating in a research note on Sunday, December 25th. Atlantic Securities cut shares of Coach from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 25th. Zacks Investment Research cut shares of Coach from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Royal Bank of Canada decreased their target price on shares of Coach from $46.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Finally, Wedbush raised their target price on shares of Coach from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.07.
Shares of Coach (NYSE:COH) traded down 1.48% during midday trading on Monday, hitting $39.15. 2,103,117 shares of the stock were exchanged. The firm has a market cap of $10.99 billion, a PE ratio of 21.49 and a beta of 0.49. The firm’s 50-day moving average is $38.07 and its 200 day moving average is $36.81. Coach has a 52-week low of $34.07 and a 52-week high of $43.71.
Coach (NYSE:COH) last released its earnings results on Tuesday, January 31st. The luxury accessories retailer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Coach had a net margin of 11.24% and a return on equity of 21.66%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that Coach will post $2.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be given a dividend of $0.3375 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.45%. Coach’s dividend payout ratio (DPR) is 74.18%.
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In other news, Director Annabelle Yu Long sold 2,310 shares of Coach stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $35.12, for a total transaction of $81,127.20. Following the completion of the sale, the director now directly owns 2,020 shares in the company, valued at $70,942.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in Coach during the fourth quarter valued at $532,034,000. Norges Bank acquired a new stake in Coach during the fourth quarter valued at $98,954,000. Portland Hill Capital LLP acquired a new stake in Coach during the fourth quarter valued at $10,411,000. Thrivent Financial for Lutherans increased its stake in Coach by 7.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,740 shares of the luxury accessories retailer’s stock valued at $341,000 after buying an additional 680 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Coach during the fourth quarter valued at $875,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
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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