Tapestry (TPR) Sets New 1-Year Low at $30.57

Shares of Tapestry Inc (NYSE:TPR) hit a new 52-week low during trading on Monday . The stock traded as low as $30.57 and last traded at $30.70, with a volume of 5792163 shares changing hands. The stock had previously closed at $32.55.

Several analysts have commented on TPR shares. KeyCorp dropped their price objective on Tapestry from $62.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 8th. They noted that the move was a valuation call. Cowen dropped their price objective on Tapestry from $62.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 8th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a report on Tuesday, January 29th. Zacks Investment Research raised Tapestry from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a report on Thursday, April 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 price target on shares of Tapestry in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.75.

The stock has a market capitalization of $9.28 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.94.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 7th. The luxury accessories retailer reported $1.07 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Tapestry Inc will post 2.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.35 dividend on an annualized basis and a yield of 4.38%. Tapestry’s payout ratio is 51.33%.

A number of institutional investors have recently made changes to their positions in the stock. Boston Advisors LLC raised its position in Tapestry by 1.7% in the first quarter. Boston Advisors LLC now owns 84,915 shares of the luxury accessories retailer’s stock valued at $2,759,000 after purchasing an additional 1,383 shares during the period. Smith Graham & Co. Investment Advisors LP raised its position in Tapestry by 22.3% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 163,260 shares of the luxury accessories retailer’s stock valued at $5,304,000 after purchasing an additional 29,760 shares during the period. Iberiabank Corp raised its position in Tapestry by 2.6% in the first quarter. Iberiabank Corp now owns 42,283 shares of the luxury accessories retailer’s stock valued at $1,374,000 after purchasing an additional 1,076 shares during the period. Strs Ohio raised its position in Tapestry by 162.0% in the first quarter. Strs Ohio now owns 142,498 shares of the luxury accessories retailer’s stock valued at $4,629,000 after purchasing an additional 88,100 shares during the period. Finally, Pennsylvania Trust Co purchased a new stake in Tapestry in the first quarter valued at $14,426,000. Hedge funds and other institutional investors own 90.87% of the company’s stock.

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Tapestry Company Profile (NYSE:TPR)

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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