Coach (NYSE:COH) was upgraded by equities researchers at Vetr from a "strong sell" rating to a "strong-buy" rating in a research note issued on Wednesday. The firm presently has a $48.50 price objective on the luxury accessories retailer's stock. Vetr's price objective would indicate a potential upside of 12.53% from the company's previous close.
In related 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 value of $217,517.30. Following the sale, the director now directly owns 37,845 shares of the company's stock, valued at approximately $1,544,454.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the director now directly owns 57,717 shares in the company, valued at $2,153,998.44. The disclosure for this sale can be found here.
Shares of Coach (NYSE:COH) traded down 0.07% during mid-day trading on Wednesday, hitting $43.10. The stock had a trading volume of 4,105,574 shares. The firm has a market cap of $11.98 billion and a PE ratio of 30.74. The stock's 50-day moving average price is $40.59 and its 200-day moving average price is $38.58. Coach has a 52-week low of $27.22 and a 52-week high of $43.71.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Friday, June 3rd were given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, June 1st.
A number of institutional investors recently modified their holdings of the company. Americafirst Capital Management LLC bought a new position in shares of Coach during the second quarter worth approximately $140,000. NEXT Financial Group Inc increased its position in shares of Coach by 23.2% in the second quarter. NEXT Financial Group Inc now owns 4,764 shares of the luxury accessories retailer's stock worth $194,000 after buying an additional 897 shares in the last quarter. Douglas Lane & Associates LLC bought a new position in shares of Coach during the first quarter worth approximately $257,000. 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 worth $263,000 after buying an additional 20 shares in the last quarter. Finally, City Holding Co. increased its position in shares of Coach by 8.8% in the second quarter. City Holding Co. now owns 7,072 shares of the luxury accessories retailer's stock worth $288,000 after buying an additional 572 shares in the last quarter.
Other research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a "buy" rating on shares of Coach in a research note on Saturday, April 23rd. Argus reissued a "hold" rating on shares of Coach in a research note on Saturday, May 14th. Jefferies Group reissued a "buy" rating on shares of Coach in a research note on Sunday, May 22nd. Zacks Investment Research raised Coach from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Credit Suisse Group AG raised Coach from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $42.00 to $47.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Coach has a consensus rating of "Hold" and an average target price of $42.01.
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.