Tapestry, Inc. (TPR) to Distribute Quarterly Dividend of $0.46 on December 21st

Tapestry, Inc. (NYSE:TPR) declared a quarterly dividend on Thursday, November 5th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.4625 per share by the luxury accessories retailer on Monday, December 21st. This represents a $1.85 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, December 4th.

Tapestry has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tapestry to earn $8.84 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 20.9%.

Tapestry Stock Performance

Shares of TPR opened at $133.03 on Friday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. The stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.53 and a beta of 1.44. The stock’s 50-day simple moving average is $117.41 and its 200 day simple moving average is $136.95. Tapestry has a 52-week low of $99.00 and a 52-week high of $164.80.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. Research analysts forecast that Tapestry will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BTIG Research dropped their price objective on Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Wells Fargo & Company boosted their price target on Tapestry from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday. BNP Paribas Exane raised their target price on Tapestry from $185.00 to $187.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Weiss Ratings raised shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $167.72.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.