Tapestry, Inc. (NYSE:TPR) Declares Quarterly Dividend of $0.35

Tapestry, Inc. (NYSE:TPR - Get Free Report) announced 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 3.47%.

Tapestry has increased its dividend by an average of 56.8% annually over the last three years and has increased its dividend every year for the last 2 years. Tapestry has a payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. 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 NYSE TPR traded up $1.39 during midday trading on Thursday, reaching $40.37. The company's stock had a trading volume of 5,358,528 shares, compared to its average volume of 3,852,467. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The stock has a market capitalization of $9.26 billion, a P/E ratio of 9.83, a PEG ratio of 0.81 and a beta of 1.61. The firm has a 50 day moving average price of $43.78 and a 200-day moving average price of $38.63. Tapestry has a 12-month low of $25.99 and a 12-month high of $48.80.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. Tapestry's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts predict that Tapestry will post 4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TPR shares. Telsey Advisory Group restated an "outperform" rating and set a $54.00 target price on shares of Tapestry in a report on Thursday. OTR Global reaffirmed a "mixed" rating on shares of Tapestry in a research note on Wednesday, April 17th. Wells Fargo & Company increased their price target on shares of Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their target price on Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Finally, StockNews.com upgraded Tapestry from a "hold" rating to a "buy" rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.82.

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.