The Coach, Inc. (COH) Cut to “Neutral” at Consumer Edge

The Coach, Inc. (COH) Cut to “Neutral” at Consumer Edge

Consumer Edge lowered shares of Coach, Inc. (NYSE:COH) from an outperform rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports.

Several other equities analysts have also issued reports on COH. BMO Capital Markets set a $42.00 target price on shares of Coach and gave the company a hold rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a buy rating in a report on Saturday, July 1st. Piper Jaffray Companies reiterated an overweight rating and set a $48.00 target price (down from $52.00) on shares of Coach in a report on Wednesday, August 16th. Canaccord Genuity reiterated a buy rating and set a $56.00 target price (down from $59.00) on shares of Coach in a report on Wednesday, August 16th. Finally, UBS AG lowered their target price on shares of Coach from $55.00 to $50.00 and set a buy rating for the company in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $47.28.

Shares of Coach (COH) opened at 39.57 on Wednesday. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 18.93 and a beta of 0.44. Coach has a one year low of $34.07 and a one year high of $48.85. The firm’s 50-day moving average price is $40.48 and its 200-day moving average price is $43.59.

Coach (NYSE:COH) last released its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Analysts anticipate that Coach will post $2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, September 7th. Coach’s payout ratio is 64.59%.

In related news, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now owns 72,412 shares in the company, valued at approximately $2,958,030.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Melinda Brown sold 8,250 shares of Coach stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the transaction, the senior vice president now owns 42,884 shares in the company, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COH. BlackRock Inc. lifted its stake in shares of Coach by 3,072.2% during the 1st quarter. BlackRock Inc. now owns 17,674,190 shares of the luxury accessories retailer’s stock valued at $730,475,000 after buying an additional 17,117,023 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Coach by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 27,983,084 shares of the luxury accessories retailer’s stock valued at $1,156,541,000 after buying an additional 1,464,098 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Coach by 1,921.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,483,000 shares of the luxury accessories retailer’s stock valued at $70,205,000 after buying an additional 1,409,643 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Coach by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock valued at $57,607,000 after buying an additional 908,228 shares in the last quarter. Finally, Columbus Circle Investors purchased a new position in shares of Coach during the 2nd quarter valued at $31,413,000. Institutional investors own 85.85% of the company’s stock.

About Coach

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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