Media stories about Tapestry (NYSE:TPR) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tapestry earned a coverage optimism score of 0.10 on Accern’s scale. Accern also gave media headlines about the luxury accessories retailer an impact score of 44.9846058949984 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have effected Accern Sentiment’s rankings:
- Travel: Marrakech:a mesmerizing tapestry of scenes (kamloopsthisweek.com)
- BergenPAC Presents Tapestry: The Carole King Songbook (newjerseystage.com)
- How the art world learned to love tapestry (ft.com)
- Notable Stocks on the Run: Tapestry, Inc., (NYSE: TPR), Soligenix, Inc., (NASDAQ: SNGX) – StocksNewsPro (press release) (stocksnewspro.com)
- Tapestry Appoints Anna Bakst CEO & Brand President, Kate Spade – Business Wire (press release) (businesswire.com)
A number of research firms have issued reports on TPR. Citigroup restated an “outperform” rating and set a $60.00 price target (up from $55.00) on shares of Tapestry in a report on Thursday, March 15th. Piper Jaffray Companies set a $60.00 price target on Tapestry and gave the stock a “buy” rating in a report on Thursday. Credit Suisse Group began coverage on Tapestry in a report on Monday, March 12th. They set an “outperform” rating and a $60.00 price target on the stock. Barclays increased their price target on Tapestry from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Loop Capital began coverage on Tapestry in a report on Thursday, March 8th. They set a “buy” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.74.
Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. Tapestry’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. research analysts anticipate that Tapestry will post 2.58 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a $0.3375 dividend. The ex-dividend date is Thursday, March 8th. Tapestry’s payout ratio is currently 120.54%.
In other news, Director Susan J. Kropf sold 6,185 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $314,198.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Luis sold 123,780 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $50.02, for a total value of $6,191,475.60. The disclosure for this sale can be found here. Insiders sold a total of 140,551 shares of company stock valued at $7,020,158 over the last three months. 0.98% of the stock is currently owned by insiders.
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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