Wall Street brokerages forecast that Tapestry Inc (NYSE:TPR) will announce $1.54 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Tapestry’s earnings. The highest sales estimate is $1.57 billion and the lowest is $1.51 billion. Tapestry reported sales of $1.48 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is scheduled to report its next earnings report on Tuesday, August 13th.
On average, analysts expect that Tapestry will report full year sales of $6.05 billion for the current financial year, with estimates ranging from $6.03 billion to $6.09 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.27 billion, with estimates ranging from $6.21 billion to $6.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Tapestry.
Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share.
In other Tapestry news, Director Annabelle Yu Long sold 3,229 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total value of $93,414.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darrell Cavens purchased 7,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $30.01 per share, with a total value of $210,070.00. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TPR. Nelson Roberts Investment Advisors LLC purchased a new stake in Tapestry during the first quarter valued at about $26,000. Claybrook Capital LLC purchased a new stake in Tapestry during the fourth quarter valued at about $34,000. Oregon Public Employees Retirement Fund lifted its stake in Tapestry by 1,484.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 1,136,452 shares in the last quarter. Avestar Capital LLC lifted its stake in Tapestry by 2,225.0% during the first quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock valued at $39,000 after buying an additional 1,157 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Tapestry by 1,079.0% during the first quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after buying an additional 1,284 shares in the last quarter. 88.31% of the stock is owned by institutional investors.
TPR stock traded down $0.40 during trading on Monday, hitting $29.54. The company had a trading volume of 3,581,467 shares, compared to its average volume of 4,496,097. The company has a market capitalization of $8.69 billion, a P/E ratio of 11.23, a PEG ratio of 1.08 and a beta of 0.79. Tapestry has a fifty-two week low of $27.93 and a fifty-two week high of $54.35. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Thursday, June 6th. Tapestry’s payout ratio is 51.33%.
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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