Tapestry Inc (NYSE:TPR) declared a dividend on Thursday, February 15th, Fidelity reports. Investors of record on Friday, March 9th will be paid a dividend of 0.3375 per share by the luxury accessories retailer on Monday, April 2nd. The ex-dividend date is Thursday, March 8th.

Tapestry has a dividend payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tapestry to earn $2.86 per share next year, which means the company should continue to be able to cover its $1.35 annual dividend with an expected future payout ratio of 47.2%.

Shares of Tapestry (NYSE TPR) traded up $0.68 during mid-day trading on Friday, reaching $50.95. The company had a trading volume of 2,572,483 shares, compared to its average volume of 3,567,264. Tapestry has a 52-week low of $37.53 and a 52-week high of $51.64. The firm has a market capitalization of $14,321.04, a price-to-earnings ratio of 45.49, a PEG ratio of 1.73 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Tapestry’s quarterly revenue was up 35.1% on a year-over-year basis. equities research analysts anticipate that Tapestry will post 2.58 earnings per share for the current year.

In other news, CAO Todd Kahn sold 4,357 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $49.13, for a total value of $214,059.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sarah Dunn sold 6,229 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. Insiders sold 140,551 shares of company stock worth $7,020,158 over the last 90 days. Company insiders own 0.98% of the company’s stock.

A number of research analysts recently weighed in on TPR shares. Zacks Investment Research lowered Tapestry from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Canaccord Genuity set a $58.00 price objective on Tapestry and gave the stock a “buy” rating in a report on Sunday, January 7th. Robert W. Baird set a $50.00 price objective on Tapestry and gave the stock a “buy” rating in a report on Friday, December 22nd. Needham & Company LLC started coverage on Tapestry in a report on Monday, December 18th. They set a “hold” rating on the stock. Finally, Buckingham Research upped their price objective on Tapestry from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.23.

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About Tapestry

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.

Dividend History for Tapestry (NYSE:TPR)

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