Analysts Set Tapestry, Inc. (NYSE:TPR) PT at $47.81

Tapestry, Inc. (NYSE:TPR) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $47.81.

Several equities research analysts have recently commented on TPR shares. The Goldman Sachs Group boosted their price target on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Thursday, February 29th. Wells Fargo & Company raised their price target on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a report on Wednesday, March 27th.

Tapestry Price Performance

Shares of TPR stock opened at $39.24 on Friday. The company’s 50-day simple moving average is $44.29 and its two-hundred day simple moving average is $38.40. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. Tapestry has a one year low of $25.99 and a one year high of $48.80. The company has a market capitalization of $9.00 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.81 and a beta of 1.61.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, equities analysts anticipate that Tapestry will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is 35.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in Tapestry during the third quarter worth about $118,000. Commonwealth Equity Services LLC increased its holdings in shares of Tapestry by 9.8% in the third quarter. Commonwealth Equity Services LLC now owns 39,632 shares of the luxury accessories retailer’s stock valued at $1,139,000 after purchasing an additional 3,540 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Tapestry by 30.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,014 shares of the luxury accessories retailer’s stock worth $345,000 after buying an additional 2,788 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Tapestry by 3.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 27,516 shares of the luxury accessories retailer’s stock worth $791,000 after buying an additional 1,031 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Tapestry by 83.8% during the third quarter. Raymond James & Associates now owns 492,831 shares of the luxury accessories retailer’s stock worth $14,169,000 after buying an additional 224,749 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Tapestry

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.