Coach Inc. (COH) Stock Price Down 2.3%

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Coach Inc. (NYSE:COH) shares fell 2.3% during trading on Wednesday . The stock traded as low as $34.55 and last traded at $35.46, with a volume of 5,163,612 shares changing hands. The stock had previously closed at $36.29.
Several research firms have recently commented on COH. Jefferies Group reaffirmed a “buy” rating on shares of Coach in a report on Sunday, May 22nd. Vetr raised shares of Coach from a “strong sell” rating to a “hold” rating and set a $39.55 price target for the company in a report on Wednesday, June 1st. Zacks Investment Research raised shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, June 29th. Credit Suisse Group AG raised shares of Coach from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $42.00 to $47.00 in a research note on Wednesday, July 27th. Finally, Argus reissued a “hold” rating on shares of Coach in a research note on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $41.81.
The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 21.50 and a beta of 0.90. The firm’s 50 day moving average price is $39.78 and its 200 day moving average price is $39.76.

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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 Thomson Reuters’ consensus estimate of $0.41 by $0.04. The firm earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts predict that Coach Inc. 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. Shareholders 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 3.81%. The ex-dividend date of this dividend is Thursday, September 8th. Coach’s payout ratio is 81.82%.
A number of hedge funds and other institutional investors have recently modified their holdings of COH. Conning Inc. increased its position 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 position 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 position 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 position 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 position 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 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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