Tapestry Inc (TPR) Plans Quarterly Dividend of $0.34

Tapestry Inc (NYSE:TPR) declared a quarterly dividend on Thursday, November 15th, Zacks reports. Shareholders of record on Friday, December 7th will be given a dividend of 0.338 per share by the luxury accessories retailer on Monday, December 31st. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, December 6th. This is a positive change from Tapestry’s previous quarterly dividend of $0.34.

Tapestry has a dividend payout ratio of 48.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tapestry to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.35 annual dividend with an expected future payout ratio of 43.8%.

TPR opened at $38.93 on Friday. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.22 and a beta of 0.70. Tapestry has a 1-year low of $36.72 and a 1-year high of $55.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.74 and a quick ratio of 1.83.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Equities research analysts anticipate that Tapestry will post 2.78 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. Nomura set a $50.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Monday, November 26th. ValuEngine lowered shares of Tapestry from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. Zacks Investment Research lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. Oppenheimer dropped their price target on shares of Tapestry from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, November 16th. Finally, Atlantic Securities upgraded shares of Tapestry from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the stock. Tapestry has a consensus rating of “Buy” and an average price target of $53.07.

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About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Dividend History for Tapestry (NYSE:TPR)

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