Tapestry (TPR) Declares $0.30 Dividend
Tapestry said on May 19, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 26, 2023.
At the current share price of $43.00 / share, the stock's dividend yield is 2.79%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.69%, the lowest has been 2.16%, and the highest has been 12.76%. The standard deviation of yields is 1.38 (n=168).
The current dividend yield is 0.65 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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What is the Fund Sentiment?
There are 1327 funds or institutions reporting positions in Tapestry. This is an increase of 36 owner(s) or 2.79% in the last quarter. Average portfolio weight of all funds dedicated to TPR is 0.26%, an increase of 21.61%. Total shares owned by institutions decreased in the last three months by 0.95% to 262,362K shares. 
The put/call ratio of TPR is 0.91, indicating a bullish outlook.
Analyst Price Forecast Suggests 17.46% Upside
As of May 11, 2023, the average one-year price target for Tapestry is 50.51. The forecasts range from a low of 38.68 to a high of $63.00. The average price target represents an increase of 17.46% from its latest reported closing price of 43.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Tapestry is 6,649MM, a decrease of 0.26%. The projected annual non-GAAP EPS is 3.67.
What are Other Shareholders Doing?
Jpmorgan Chase holds 16,570K shares representing 7.15% ownership of the company. In it's prior filing, the firm reported owning 15,019K shares, representing an increase of 9.36%. The firm increased its portfolio allocation in TPR by 15.42% over the last quarter.
Franklin Resources holds 8,325K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 11,045K shares, representing a decrease of 32.68%. The firm decreased its portfolio allocation in TPR by 81.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,319K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 7,182K shares, representing an increase of 1.87%. The firm increased its portfolio allocation in TPR by 26.06% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 6,208K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 6,124K shares, representing an increase of 1.35%. The firm increased its portfolio allocation in TPR by 25.70% over the last quarter.
SEEGX - JPMorgan Large Cap Growth Fund Class I holds 5,704K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 5,222K shares, representing an increase of 8.46%. The firm increased its portfolio allocation in TPR by 28.18% over the last quarter.
Tapestry Background Information
(This description is provided by the company.)
Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The Company's portfolio includes Coach, Kate Spade and Stuart Weitzman. The Company and its brands are founded upon a creative and consumer-led view of luxury that stands for inclusivity and approachability. Each of Tapestry's brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies.
Key filings for this company:
This story originally appeared on Fintel.