$1.28 Billion in Sales Expected for Tapestry Inc (NYSE:TPR) This Quarter

Wall Street brokerages expect Tapestry Inc (NYSE:TPR) to announce $1.28 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Tapestry’s earnings, with the lowest sales estimate coming in at $1.25 billion and the highest estimate coming in at $1.30 billion. Tapestry reported sales of $1.33 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The firm is expected to issue its next earnings report on Thursday, May 14th.

On average, analysts expect that Tapestry will report full-year sales of $5.89 billion for the current financial year, with estimates ranging from $5.83 billion to $5.93 billion. For the next financial year, analysts forecast that the company will post sales of $6.10 billion, with estimates ranging from $5.90 billion to $6.30 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Tapestry.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.11. Tapestry had a net margin of 9.72% and a return on equity of 21.24%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $1.07 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis.

TPR has been the subject of several analyst reports. Zacks Investment Research lowered shares of Tapestry from a “hold” rating to a “sell” rating and set a $28.00 price target for the company. in a report on Monday, October 28th. ValuEngine upgraded shares of Tapestry from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Robert W. Baird restated an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of Tapestry in a report on Friday, February 7th. They noted that the move was a valuation call. Bank of America restated a “buy” rating and set a $35.00 price target on shares of Tapestry in a report on Thursday. Finally, KeyCorp raised their price target on shares of Tapestry from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company. Tapestry currently has a consensus rating of “Hold” and a consensus price target of $28.62.

Tapestry stock traded down $0.82 during mid-day trading on Friday, hitting $27.99. 4,297,449 shares of the stock were exchanged, compared to its average volume of 4,103,549. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 1.05. Tapestry has a 12 month low of $18.54 and a 12 month high of $36.55. The firm’s fifty day simple moving average is $27.83 and its two-hundred day simple moving average is $25.92. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.34 and a beta of 1.04.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 6th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Thursday, March 5th. Tapestry’s dividend payout ratio (DPR) is 52.53%.

In other news, insider Sarah Dunn sold 32,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $26.78, for a total transaction of $856,960.00. Following the completion of the sale, the insider now owns 62,131 shares of the company’s stock, valued at approximately $1,663,868.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. USS Investment Management Ltd acquired a new stake in Tapestry in the 4th quarter valued at $70,237,000. Janus Henderson Group PLC grew its position in Tapestry by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,469,300 shares of the luxury accessories retailer’s stock valued at $66,597,000 after purchasing an additional 1,243,150 shares during the period. Bank of New York Mellon Corp grew its position in Tapestry by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,139,698 shares of the luxury accessories retailer’s stock valued at $300,438,000 after purchasing an additional 1,013,402 shares during the period. Investec Asset Management LTD grew its position in Tapestry by 109.3% in the 4th quarter. Investec Asset Management LTD now owns 1,804,080 shares of the luxury accessories retailer’s stock valued at $48,656,000 after purchasing an additional 942,124 shares during the period. Finally, State Street Corp grew its position in Tapestry by 5.7% in the 3rd quarter. State Street Corp now owns 14,015,589 shares of the luxury accessories retailer’s stock valued at $365,106,000 after purchasing an additional 751,835 shares during the period. 88.72% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Tapestry (NYSE:TPR)

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