Tapestry (TPR) Scheduled to Post Quarterly Earnings on Thursday

Tapestry (NYSE:TPRGet Free Report) is set to release its earnings data before the market opens on Thursday, February 8th. Analysts expect Tapestry to post earnings of $1.46 per share for the quarter. Tapestry has set its FY24 guidance at $4.10-4.15 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Tapestry (NYSE:TPRGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The luxury accessories retailer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.90 by $0.03. Tapestry had a net margin of 14.03% and a return on equity of 41.29%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, analysts expect Tapestry to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Tapestry Price Performance

NYSE:TPR opened at $41.00 on Wednesday. Tapestry has a one year low of $25.99 and a one year high of $46.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.23 and a current ratio of 2.02. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.85 and a beta of 1.51. The firm’s fifty day moving average is $36.57 and its two-hundred day moving average is $33.57.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Friday, December 8th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, December 7th. Tapestry’s payout ratio is 35.62%.

Analysts Set New Price Targets

TPR has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. TheStreet raised shares of Tapestry from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. JPMorgan Chase & Co. lowered their target price on shares of Tapestry from $56.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 13th. The Goldman Sachs Group lowered their target price on shares of Tapestry from $46.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Finally, BMO Capital Markets lowered their target price on shares of Tapestry from $43.00 to $39.00 and set a “market perform” rating on the stock in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.59.

Read Our Latest Stock Analysis on Tapestry

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in shares of Tapestry by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 24,902 shares of the luxury accessories retailer’s stock worth $716,000 after buying an additional 2,706 shares during the last quarter. Creative Planning boosted its position in shares of Tapestry by 395.9% during the 3rd quarter. Creative Planning now owns 64,723 shares of the luxury accessories retailer’s stock worth $1,861,000 after purchasing an additional 51,671 shares during the period. Morgan Stanley boosted its position in shares of Tapestry by 51.4% during the 3rd quarter. Morgan Stanley now owns 2,962,424 shares of the luxury accessories retailer’s stock worth $85,170,000 after purchasing an additional 1,006,126 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Tapestry by 12.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 196,679 shares of the luxury accessories retailer’s stock worth $5,655,000 after purchasing an additional 21,612 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Tapestry during the 3rd quarter worth approximately $325,000. Institutional investors and hedge funds own 92.12% of the company’s stock.

Tapestry Company Profile

(Get Free Report)

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.

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Earnings History for Tapestry (NYSE:TPR)

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