Brokerages Set Tapestry, Inc. (NYSE:TPR) Price Target at $57.82

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $57.78.

A number of analysts have recently issued reports on the stock. Barclays reissued an “equal weight” rating and issued a $57.00 price objective on shares of Tapestry in a research note on Wednesday, November 20th. Robert W. Baird upped their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Raymond James reissued an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. The Goldman Sachs Group upped their price objective on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th.

Tapestry Trading Up 3.3 %

Shares of NYSE:TPR opened at $60.86 on Tuesday. Tapestry has a 12-month low of $30.20 and a 12-month high of $61.28. The company has a market cap of $14.18 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53. The stock has a 50 day moving average of $48.37 and a 200 day moving average of $43.75. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.30%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after buying an additional 272,007 shares during the last quarter. Capital Research Global Investors boosted its holdings in Tapestry by 8.5% during the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock valued at $296,212,000 after acquiring an additional 489,933 shares during the period. Pacer Advisors Inc. increased its stake in Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after purchasing an additional 58,135 shares during the period. Geode Capital Management LLC increased its stake in Tapestry by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Tapestry by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after purchasing an additional 165,406 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.