Tapestry, Inc. (NYSE:TPR – Get Free Report) announced a quarterly dividend on Thursday, November 5th. Investors of record on Friday, December 4th will be paid a dividend of $0.4625 per share by the luxury accessories retailer on Monday, December 21st. This represents a $1.85 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, December 4th.
Tapestry has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Tapestry to earn $8.84 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 20.9%.
Tapestry Price Performance
TPR opened at $134.29 on Friday. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.58 and a beta of 1.44. Tapestry has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The stock has a fifty day moving average price of $117.21 and a 200 day moving average price of $136.93.
Tapestry (NYSE:TPR – Get Free Report) last issued its earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Tapestry will post 7.95 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently commented on TPR shares. TD Cowen began coverage on Tapestry in a research note on Friday, October 30th. They issued a “strong-buy” rating for the company. Jefferies Financial Group cut their price objective on shares of Tapestry from $144.00 to $125.00 and set a “hold” rating on the stock in a research report on Wednesday, October 21st. Robert W. Baird reduced their target price on shares of Tapestry from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Morgan Stanley decreased their target price on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Finally, Evercore dropped their price target on shares of Tapestry from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.89.
Tapestry Company Profile
Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.
Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.
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