Tapestry, Inc. (NYSE:TPR) Receives $58.94 Average PT from Analysts

Tapestry, Inc. (NYSE:TPR) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $61.24.

A number of equities analysts have recently commented on the company. Raymond James restated an “outperform” rating and issued a $57.00 price objective (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Telsey Advisory Group lifted their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Bank of America raised their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

Tapestry Trading Up 2.4 %

Shares of TPR opened at $64.15 on Friday. Tapestry has a twelve month low of $35.23 and a twelve month high of $65.30. The firm has a market capitalization of $14.95 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The stock’s fifty day simple moving average is $54.65 and its 200 day simple moving average is $46.30.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is 40.46%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds have recently bought and sold shares of the company. Redwood Investment Management LLC raised its stake in Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after buying an additional 204 shares in the last quarter. Lebenthal Global Advisors LLC increased its holdings in shares of Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after acquiring an additional 218 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Tapestry by 1.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after acquiring an additional 251 shares in the last quarter. Finally, Legend Financial Advisors Inc. lifted its stake in Tapestry by 1.9% during the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.