Tapestry Inc (TPR) to Issue $0.34 Dividend
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.
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.
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.
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