Shares of Coach Surge on Buyout Rumors (COH)
Accessory designer, Coach, Inc.(COH) share’s increased on Wednesday morning on buyout rumors and a new management announcement.
Shares of COH surged over 5% on Wednesday morning after a rumor of the company researching a sale. Coach also saw its shares shoot up after an announcement was made that it had added two new senior management positions to help its growth in global stores. Zach Augustine was appointed to executive vice president of Global Environments and Erin Thomson was hired as vice president and Artistic Director of Global Environments.
Although there is no confirmation on the potential sale, a significant premium would need to be established if the company was sold.
Coach shares were up $2.38, or 5.12% during Wednesday morning trading. The stock has declined -36% in the past year.
The Bottom Line
Shares of Coach, Inc.(COH) have a 2.47% yield, based on Wednesday morning’s price of $48.50.
Coach, Inc.(COH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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