Tapestry, Inc. to Issue Quarterly Dividend of $0.35 (NYSE:TPR)

Tapestry, Inc. (NYSE:TPR) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.35 per share by the luxury accessories retailer on Monday, March 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, March 6th.

Tapestry has increased its dividend by an average of 41.0% annually over the last three years. Tapestry has a dividend payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tapestry to earn $5.04 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 27.8%.

Tapestry Stock Down 2.3 %

Shares of NYSE TPR opened at $80.28 on Friday. The firm’s 50-day moving average is $68.08 and its two-hundred day moving average is $53.27. The company has a market capitalization of $18.71 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. Tapestry has a 12-month low of $35.23 and a 12-month high of $87.87. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter last year, the company earned $1.63 EPS. Equities analysts anticipate that Tapestry will post 4.7 EPS for the current fiscal year.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday. Daiwa America raised Tapestry to a “hold” rating in a research report on Monday, November 18th. Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.17.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.