Tapestry (NYSE:TPR) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Tapestry (NYSE:TPR - Get Free Report) released its quarterly earnings results on Thursday. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.14, Zacks reports. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. Tapestry updated its FY 2025 guidance to 5.000- EPS.

Tapestry Stock Up 1.2%

TPR stock traded up $1.01 during mid-day trading on Tuesday, hitting $83.67. 3,573,901 shares of the company were exchanged, compared to its average volume of 4,219,937. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market cap of $17.32 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.01 and a beta of 1.41. The firm's 50 day simple moving average is $69.78 and its 200 day simple moving average is $68.34. Tapestry has a 1-year low of $35.23 and a 1-year high of $90.85.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is 36.84%.

Wall Street Analysts Forecast Growth

TPR has been the topic of several research reports. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Barclays upped their price objective on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company decreased their target price on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group boosted their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.06.

Insiders Place Their Bets

In related news, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,537 shares of company stock worth $8,986,589. Company insiders own 1.18% of the company's stock.

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.