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

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $57.78.

Several equities analysts have recently commented on TPR shares. Raymond James restated an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets upped their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th.

Tapestry Stock Up 3.3 %

Shares of NYSE:TPR opened at $60.86 on Tuesday. The business’s 50 day moving average is $48.37 and its 200 day moving average is $43.75. The stock has a market cap of $14.18 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53. Tapestry has a 52-week low of $30.20 and a 52-week high of $61.28. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid 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 payout ratio is 40.46%.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry in the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its holdings in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the period. Brooklyn Investment Group purchased a new position in Tapestry during the 3rd quarter worth approximately $47,000. Blue Trust Inc. lifted its stake in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares during the period. Finally, MUFG Securities EMEA plc boosted its holdings in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares during the last quarter. Hedge funds and other institutional investors 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.