Tapestry (NYSE:TPR) Issues FY 2022 Earnings Guidance

Tapestry (NYSE:TPR) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $3.450-$3.500 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.360. The company issued revenue guidance of $6.60 billion-$6.60 billion, compared to the consensus revenue estimate of $6.42 billion.

TPR stock traded down $1.92 during trading on Thursday, hitting $44.07. The company had a trading volume of 5,723,907 shares, compared to its average volume of 3,684,873. The firm has a 50-day moving average price of $40.63 and a 200-day moving average price of $41.83. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.07 and a beta of 1.48. Tapestry has a 12 month low of $27.66 and a 12 month high of $49.67. The company has a quick ratio of 1.85, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 11th. The luxury accessories retailer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. Tapestry had a net margin of 13.70% and a return on equity of 29.73%. During the same quarter in the previous year, the business posted $0.58 earnings per share. Equities analysts expect that Tapestry will post 3.5 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Friday, December 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 2nd. Tapestry’s payout ratio is 34.25%.

Several brokerages have commented on TPR. Zacks Investment Research cut shares of Tapestry from a buy rating to a hold rating and set a $41.00 target price for the company. in a research report on Monday, October 25th. BMO Capital Markets upped their target price on shares of Tapestry from $45.00 to $50.00 and gave the company a market perform rating in a research report on Friday, November 12th. Robert W. Baird upped their target price on shares of Tapestry from $56.00 to $58.00 and gave the company an outperform rating in a research report on Friday, November 12th. BTIG Research dropped their target price on shares of Tapestry from $67.00 to $61.00 and set a buy rating for the company in a research report on Monday, November 1st. Finally, Argus raised shares of Tapestry from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Friday, November 19th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Tapestry has an average rating of Buy and a consensus price target of $47.50.

In other news, CEO Todd Kahn sold 10,523 shares of the stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $46.00, for a total transaction of $484,058.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Manesh Dadlani sold 2,168 shares of the company’s stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $45.81, for a total transaction of $99,316.08. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Tapestry stock. Morgan Stanley raised its stake in Tapestry, Inc. (NYSE:TPR) by 18.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,139,695 shares of the luxury accessories retailer’s stock after acquiring an additional 173,870 shares during the quarter. Morgan Stanley owned about 0.41% of Tapestry worth $49,554,000 at the end of the most recent reporting period. Institutional investors own 88.31% of the company’s stock.

About Tapestry

Tapestry, Inc engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment consists global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors.

Recommended Story: Investing strategies using the yield curve

Earnings History and Estimates for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.