Coach Inc. (NYSE:COH)‘s stock had its “hold” rating reiterated by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday. They presently have a $31.00 price objective on the luxury accessories retailer’s stock. BMO Capital Markets’ target price suggests a potential downside of 28.07% from the stock’s previous close.
Several hedge funds and institutional investors have bought and sold shares of COH. UBS Oconnor LLC acquired a new position in Coach during the fourth quarter valued at approximately $5,728,000. Andra AP fonden raised its position in Coach by 7.2% in the fourth quarter. Andra AP fonden now owns 47,600 shares of the luxury accessories retailer’s stock valued at $1,558,000 after buying an additional 3,200 shares during the last quarter. J. Goldman & Co LP acquired a new position in Coach during the fourth quarter valued at approximately $5,340,000. Victory Capital Management Inc. raised its position in Coach by 167.7% in the fourth quarter. Victory Capital Management Inc. now owns 126,180 shares of the luxury accessories retailer’s stock valued at $4,129,000 after buying an additional 79,040 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Coach by 80.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 62,234 shares of the luxury accessories retailer’s stock valued at $2,037,000 after buying an additional 27,780 shares during the last quarter.
In other Coach news, Director Susan J. Kropf sold 5,330 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $40.81, for a total transaction of $217,517.30. Following the completion of the transaction, the director now owns 37,845 shares of the company’s stock, valued at $1,544,454.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jide James Zeitlin sold 3,206 shares of the stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $37.32, for a total transaction of $119,647.92. Following the transaction, the director now directly owns 57,717 shares of the company’s stock, valued at approximately $2,153,998.44. The disclosure for this sale can be found here.
Coach (NYSE:COH) traded down 0.70% during mid-day trading on Thursday, reaching $42.80. 3,038,910 shares of the company’s stock traded hands. The firm has a market cap of $11.90 billion and a price-to-earnings ratio of 30.53. The firm’s 50-day moving average price is $40.59 and its 200 day moving average price is $38.58. Coach has a one year low of $27.22 and a one year high of $43.71.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, June 1st.
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.
