Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms. It also provides bag collections, including business cases, computer bags, messenger-style bags, backpacks, and totes; small leather goods, such as wallets, card cases, travel organizers, and belts; and footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men. In addition, the company offers women's footwear; sunglasses; bracelets, necklaces, rings, and earrings; fragrances and watches; women's seasonal lifestyle apparel collections that include outerwear and ready-to-wear, and cold weather accessories, which comprise gloves, scarves, and hats. Further, it provides footwear items; and housewares and home accessories for kids, such as fashion bedding and tableware; and stationery and gifts. Additionally, the company licenses rights to market and distribute its jewelry, eyewear, watches, fragrances, and tech accessories under the Coach brand; and fashion beddings, tableware and housewares, eyewear, watches, stationery and gifts, and tech accessories under the Kate Spade brand. As of July 3, 2021, it operated through a network of 939 Coach stores, 407 Kate Spade stores, and 104 Stuart Weitzman stores. The company sells its products through e-commerce sites and concession shop-in-shops, and wholesale customers, as well as through independent third-party distributors. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is based in New York, New York.
Tapestry Stock Up 0.6 %
Shares of TPR traded up $0.21 during trading hours on Friday, reaching $34.08. The stock had a trading volume of 1,962,591 shares, compared to its average volume of 2,857,029. Tapestry has a 12 month low of $26.39 and a 12 month high of $47.05. The firm has a 50-day simple moving average of $32.71 and a 200 day simple moving average of $34.65. The company has a current ratio of 1.48, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 0.69 and a beta of 1.36.
Tapestry (NYSE:TPR - Get Rating) last issued its earnings results on Thursday, May 12th. The luxury accessories retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.11. Tapestry had a return on equity of 32.07% and a net margin of 12.99%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the business earned $0.51 EPS. Tapestry's quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Tapestry will post 3.46 earnings per share for the current fiscal year.
Tapestry Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 27th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, June 2nd. Tapestry's dividend payout ratio (DPR) is presently 32.26%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. BTIG Research lowered their price objective on Tapestry from $53.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, July 21st. Wells Fargo & Company decreased their target price on shares of Tapestry from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, July 7th. UBS Group decreased their target price on shares of Tapestry from $36.00 to $31.00 in a research report on Friday, July 15th. The Goldman Sachs Group decreased their target price on shares of Tapestry from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, July 21st. Finally, Cowen decreased their target price on shares of Tapestry from $56.00 to $40.00 in a research report on Friday, May 13th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $46.18.
