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.
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%.
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.
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