UBS Group started coverage on shares of Tapestry (NYSE:TPR) in a research note published on Thursday morning, www.benzinga.com reports. The brokerage issued a buy rating and a $62.00 target price on the luxury accessories retailer’s stock.
Several other research analysts have also issued reports on TPR. Deutsche Bank set a $63.00 target price on shares of Tapestry and gave the company a buy rating in a research note on Wednesday, May 2nd. Loop Capital set a $59.00 target price on shares of Tapestry and gave the company a buy rating in a research note on Tuesday, May 1st. ValuEngine lowered shares of Tapestry from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Oppenheimer raised their target price on shares of Tapestry from $60.00 to $65.00 in a research note on Monday, April 30th. Finally, Robert W. Baird set a $60.00 target price on shares of Tapestry and gave the company a buy rating in a research note on Monday, April 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $54.77.
Shares of NYSE:TPR opened at $47.27 on Thursday. Tapestry has a 12 month low of $38.70 and a 12 month high of $55.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.66. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.65 and a beta of 0.34.
Tapestry (NYSE:TPR) last issued its earnings results on Tuesday, May 1st. The luxury accessories retailer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. analysts expect that Tapestry will post 2.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be issued a dividend of $0.338 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, June 7th. Tapestry’s dividend payout ratio (DPR) is 62.79%.
A number of hedge funds have recently made changes to their positions in TPR. Stelac Advisory Services LLC acquired a new stake in Tapestry during the 1st quarter worth approximately $130,000. Advisory Services Network LLC acquired a new stake in Tapestry during the 4th quarter worth approximately $131,000. Stratos Wealth Partners LTD. acquired a new stake in Tapestry during the 1st quarter worth approximately $155,000. Pitcairn Co. acquired a new stake in Tapestry during the 1st quarter worth approximately $201,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Tapestry in the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 89.18% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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