Tapestry, Inc. (NYSE:TPR) Plans Quarterly Dividend of $0.40

Tapestry, Inc. (NYSE:TPR) declared a quarterly dividend on Thursday, November 6th. Investors of record on Friday, December 5th will be given a dividend of 0.40 per share by the luxury accessories retailer on Monday, December 22nd. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th.

Tapestry has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Tapestry has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tapestry to earn $5.30 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.2%.

Tapestry Stock Performance

Shares of NYSE TPR traded down $10.43 during trading hours on Thursday, hitting $98.88. 8,136,031 shares of the company’s stock were exchanged, compared to its average volume of 4,512,777. Tapestry has a 1-year low of $49.84 and a 1-year high of $118.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 156.95, a PEG ratio of 2.72 and a beta of 1.71. The company’s 50-day moving average price is $110.98 and its 200-day moving average price is $96.88.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, sell-side analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in Tapestry by 16.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after acquiring an additional 9,049 shares during the last quarter. Jump Financial LLC grew its position in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after acquiring an additional 72,623 shares during the last quarter. Allworth Financial LP grew its position in Tapestry by 689.0% during the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Tapestry during the 1st quarter worth approximately $1,476,000. Finally, Nuveen LLC bought a new stake in Tapestry during the 1st quarter worth approximately $59,133,000. 90.77% of the stock is owned by institutional investors and hedge funds.

About Tapestry

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.