Equities research analysts at Susquehanna Bancshares Inc began coverage on shares of Coach, Inc. (NYSE:COH) in a research report issued to clients and investors on Thursday. The brokerage set a “positive” rating and a $50.00 price target on the luxury accessories retailer’s stock. Susquehanna Bancshares Inc’s price target would indicate a potential upside of 25.31% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada decreased their target price on shares of Coach from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, August 16th. Jefferies Group LLC set a $42.00 target price on shares of Coach and gave the company a “hold” rating in a research report on Tuesday, August 15th. Buckingham Research reissued a “buy” rating and set a $56.00 target price (down previously from $58.00) on shares of Coach in a research report on Friday, August 18th. BMO Capital Markets set a $42.00 target price on shares of Coach and gave the company a “hold” rating in a research report on Thursday, July 6th. Finally, Canaccord Genuity reissued a “buy” rating and set a $56.00 target price (down previously from $59.00) on shares of Coach in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $47.61.
Coach (NYSE:COH) last announced its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the 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 analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The company’s revenue was down 1.8% compared to the same quarter last year.
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In related news, SVP Melinda Brown sold 8,250 shares of Coach stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the transaction, the senior vice president now owns 42,884 shares in the company, valued at $1,770,251.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Coach by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,909,152 shares of the luxury accessories retailer’s stock worth $1,368,559,000 after acquiring an additional 926,068 shares during the last quarter. BlackRock Inc. lifted its stake in Coach by 0.5% in the second quarter. BlackRock Inc. now owns 17,761,037 shares of the luxury accessories retailer’s stock worth $840,807,000 after acquiring an additional 86,847 shares during the last quarter. American Century Companies Inc. lifted its stake in Coach by 118.6% in the third quarter. American Century Companies Inc. now owns 6,155,718 shares of the luxury accessories retailer’s stock worth $247,952,000 after acquiring an additional 3,339,718 shares during the last quarter. Jennison Associates LLC lifted its stake in Coach by 13.6% in the second quarter. Jennison Associates LLC now owns 4,637,031 shares of the luxury accessories retailer’s stock worth $219,517,000 after acquiring an additional 553,533 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Coach in the third quarter worth approximately $82,146,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.
Coach Company Profile
Tapestry, Inc, formerly Coach, Inc, 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 Tapestry brand products to North American customers through Tapestry-operated stores (including the Internet) and sales to North American wholesale customers.
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