Tapestry, Inc. (NYSE:TPR – Get Free Report) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.35 per share by the luxury accessories retailer on Monday, June 24th. This represents a $1.40 annualized dividend and a dividend yield of 3.64%.
Tapestry has raised its dividend by an average of 56.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Tapestry has a dividend payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tapestry to earn $4.55 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 30.8%.
Tapestry Stock Performance
Shares of Tapestry stock opened at $38.50 on Thursday. The business’s fifty day simple moving average is $43.78 and its 200 day simple moving average is $38.63. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80. The firm has a market capitalization of $8.83 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. The Goldman Sachs Group raised their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, February 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.81.
Get Our Latest Stock Analysis on TPR
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.
Featured Stories
- Five stocks we like better than Tapestry
- Investing In Preferred Stock vs. Common Stock
- Roblox: The Bottom Just Fell Out of the Metaverse
- Investing in Travel Stocks Benefits
- Airbnb Stock Plummets After Earnings, But is It a Buy?
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Uber’s Earnings Drop Is Investors Opportunity
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.