Tapestry, Inc. (TPR) to Issue Quarterly Dividend of $0.35 on March 24th

Tapestry, Inc. (NYSE:TPR) declared 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 1.67%. The ex-dividend date is Thursday, March 6th.

Tapestry has raised its dividend by an average of 41.0% annually over the last three years. Tapestry has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tapestry to earn $5.30 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 26.4%.

Tapestry Trading Down 1.6 %

NYSE:TPR opened at $84.04 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $75.17 and its two-hundred day moving average is $58.72. Tapestry has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a market cap of $17.40 billion, a PE ratio of 24.36, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping 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 in the previous year, the business posted $1.63 EPS. On average, analysts predict that Tapestry will post 4.91 EPS for the current year.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James reaffirmed an “outperform” rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Robert W. Baird increased their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

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.