Tapestry, Inc. (NYSE:TPR) Given Consensus Rating of “Moderate Buy” by Brokerages

Tapestry, Inc. (NYSE:TPR) has been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $78.53.

A number of equities research analysts have weighed in on TPR shares. Evercore ISI lifted their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th.

Tapestry Trading Down 3.4 %

TPR stock opened at $70.25 on Monday. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.85. The firm’s 50-day moving average is $77.65 and its 200 day moving average is $63.09. The company has a market capitalization of $14.54 billion, a PE ratio of 20.36, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the firm earned $1.63 EPS. On average, research analysts anticipate that Tapestry will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 in the last three months. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently bought and sold shares of the business. Greenline Partners LLC acquired a new stake in shares of Tapestry in the fourth quarter worth $29,000. Coppell Advisory Solutions LLC boosted its holdings in Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Venturi Wealth Management LLC grew its position in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Tapestry during the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group acquired a new position in shares of Tapestry in the 3rd quarter valued at about $47,000. 90.77% of the stock is owned by hedge funds and other 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.