Tapestry Inc (NYSE:TPR) – Equities research analysts at Jefferies Group dropped their Q4 2018 earnings per share estimates for shares of Tapestry in a research note issued on Tuesday. Jefferies Group analyst R. Konik now anticipates that the luxury accessories retailer will earn $0.56 per share for the quarter, down from their previous forecast of $0.60. Jefferies Group currently has a “Hold” rating and a $42.00 price target on the stock.

A number of other brokerages have also commented on TPR. KeyCorp set a $53.00 price objective on Tapestry and gave the company a “buy” rating in a report on Wednesday, October 11th. UBS decreased their price objective on Tapestry from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Wolfe Research lowered Tapestry from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $51.00 to $42.00 in a report on Tuesday, October 3rd. Nomura set a $53.00 price objective on Tapestry and gave the company a “buy” rating in a report on Wednesday, August 16th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $56.00 price objective (down from $58.00) on shares of Tapestry in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $47.70.

Shares of Tapestry (TPR) traded up $0.76 during midday trading on Thursday, reaching $42.27. The company’s stock had a trading volume of 2,527,900 shares, compared to its average volume of 3,358,812. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64. Tapestry has a 52-week low of $34.16 and a 52-week high of $48.85. The firm has a market cap of $12,230.00, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.56 and a beta of 0.46.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the stock. M&R Capital Management Inc. bought a new stake in shares of Tapestry during the 3rd quarter worth $153,000. LMR Partners LLP bought a new stake in shares of Tapestry during the 3rd quarter worth $229,000. Point View Wealth Management Inc. bought a new stake in shares of Tapestry during the 3rd quarter worth $552,000. New Mexico Educational Retirement Board bought a new stake in shares of Tapestry during the 3rd quarter worth $1,051,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Tapestry during the 3rd quarter worth $4,916,000. Institutional investors and hedge funds own 88.10% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.19%. Tapestry’s dividend payout ratio is currently 83.85%.

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Tapestry Company Profile

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.

Earnings History and Estimates for Tapestry (NYSE:TPR)

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