Tapestry Inc (NYSE:TPR) Director Susan J. Kropf sold 6,185 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $50.80, for a total value of $314,198.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Tapestry Inc (TPR) traded down $0.50 during mid-day trading on Wednesday, reaching $52.48. The company had a trading volume of 1,715,910 shares, compared to its average volume of 2,836,078. The stock has a market capitalization of $14,944.93, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. Tapestry Inc has a 12 month low of $37.92 and a 12 month high of $53.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.51 and a current ratio of 1.90.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. equities research analysts predict that Tapestry Inc will post 2.58 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, March 8th. Tapestry’s dividend payout ratio (DPR) is 120.54%.
A number of institutional investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board boosted its holdings in Tapestry by 4.2% in the fourth quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock worth $1,203,000 after acquiring an additional 1,100 shares in the last quarter. Hexavest Inc. bought a new position in shares of Tapestry during the fourth quarter valued at $106,000. First Dallas Securities Inc. bought a new position in shares of Tapestry during the fourth quarter valued at $108,000. Dupont Capital Management Corp bought a new position in shares of Tapestry during the fourth quarter valued at $110,000. Finally, Cerebellum GP LLC bought a new position in Tapestry in the fourth quarter valued at about $118,000. 89.28% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on TPR. William Blair reiterated an “outperform” rating on shares of Tapestry in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $48.00 price objective on Tapestry and gave the company a “hold” rating in a research report on Monday, February 5th. Barclays boosted their price objective on Tapestry from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Credit Suisse Group began coverage on Tapestry in a research report on Monday. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Tapestry currently has an average rating of “Buy” and an average target price of $50.75.
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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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