Tapestry Inc (NYSE:TPR) – Analysts at William Blair lifted their FY2018 earnings estimates for shares of Tapestry in a note issued to investors on Tuesday. William Blair analyst D. Carden now anticipates that the luxury accessories retailer will post earnings per share of $2.57 for the year, up from their previous forecast of $2.37. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Tapestry’s Q4 2018 earnings at $0.59 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.76 EPS.
Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company’s revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share.
Shares of Tapestry (NYSE:TPR) traded down $1.18 during trading on Thursday, hitting $47.67. 2,474,698 shares of the stock were exchanged, compared to its average volume of 2,973,833. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.25. Tapestry has a twelve month low of $37.53 and a twelve month high of $50.71. The firm has a market capitalization of $13,850.00, a PE ratio of 43.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59.
Several large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in shares of Tapestry in the fourth quarter valued at $287,354,000. Jennison Associates LLC bought a new position in shares of Tapestry in the fourth quarter valued at $181,887,000. Miller Howard Investments Inc. NY bought a new position in shares of Tapestry in the fourth quarter valued at $78,023,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Tapestry in the fourth quarter valued at $77,642,000. Finally, Wells Fargo & Company MN bought a new position in shares of Tapestry in the fourth quarter valued at $64,036,000. 88.00% of the stock is owned by institutional investors and hedge funds.
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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. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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