Tapestry Inc (NYSE:TPR) – KeyCorp boosted their Q4 2018 earnings estimates for shares of Tapestry in a research report issued to clients and investors on Tuesday. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will post earnings per share of $0.60 for the quarter, up from their previous forecast of $0.59. KeyCorp currently has a “Overweight” rating and a $59.00 target price on the stock.
Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis.
Shares of Tapestry (NYSE TPR) traded down $0.68 during midday trading on Friday, hitting $48.17. 3,683,508 shares of the company’s stock were exchanged, compared to its average volume of 2,986,192. Tapestry has a fifty-two week low of $37.53 and a fifty-two week high of $50.71. The company has a market capitalization of $13,850.00, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.64.
A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. purchased a new position in shares of Tapestry during the 4th quarter worth $287,354,000. Jennison Associates LLC purchased a new position in shares of Tapestry during the 4th quarter worth $181,887,000. Miller Howard Investments Inc. NY purchased a new position in shares of Tapestry during the 4th quarter worth $78,023,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Tapestry during the 4th quarter worth $77,642,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Tapestry during the 4th quarter worth $64,036,000. Institutional investors own 88.00% of the company’s stock.
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Tapestry 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. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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