Tapestry, Inc. (NYSE:TPR) to Issue Quarterly Dividend of $0.46

Tapestry, Inc. (NYSE:TPR) announced a quarterly dividend on Thursday, August 13th. Stockholders of record on Friday, September 4th will be given a dividend of 0.4625 per share by the luxury accessories retailer on Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 4th. This is a 15.6% increase from Tapestry’s previous quarterly dividend of $0.40.

Tapestry has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 3 years. Tapestry has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tapestry to earn $7.78 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 20.6%.

Tapestry Price Performance

Shares of NYSE TPR opened at $128.56 on Friday. The firm has a 50-day simple moving average of $146.70 and a 200-day simple moving average of $144.74. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry has a 52 week low of $92.62 and a 52 week high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities analysts predict that Tapestry will post 6.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. Barclays reissued an “overweight” rating on shares of Tapestry in a research note on Friday. Telsey Advisory Group upped their price target on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. Finally, Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.