Tapestry, Inc. (NYSE:TPR) Receives Average Rating of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has received an average rating of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $61.24.

TPR has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group boosted their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Raymond James reissued an “outperform” rating and issued a $57.00 price target (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th.

Tapestry Price Performance

Shares of NYSE TPR opened at $64.15 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The company has a market cap of $14.95 billion, a PE ratio of 18.54, a P/E/G ratio of 1.80 and a beta of 1.60. The stock has a fifty day moving average price of $54.65 and a 200 day moving average price of $46.30. Tapestry has a 1-year low of $35.23 and a 1-year high of $65.30.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.18%. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Tapestry

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tapestry by 25.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 22,256 shares of the luxury accessories retailer’s stock worth $952,000 after purchasing an additional 4,498 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Tapestry by 17.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,436 shares of the luxury accessories retailer’s stock worth $661,000 after buying an additional 2,284 shares during the last quarter. Blue Trust Inc. boosted its stake in Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the last quarter. Raymond James & Associates grew its holdings in Tapestry by 9.2% in the 2nd quarter. Raymond James & Associates now owns 463,654 shares of the luxury accessories retailer’s stock valued at $19,840,000 after buying an additional 38,927 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Tapestry by 12.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 54,870 shares of the luxury accessories retailer’s stock valued at $2,348,000 after acquiring an additional 5,888 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.