Tapestry (NYSE:TPR) Hits New 1-Year High – Still a Buy?

Tapestry, Inc. (NYSE:TPR) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $88.06 and last traded at $87.85, with a volume of 2092003 shares changing hands. The stock had previously closed at $86.64.

Analysts Set New Price Targets

TPR has been the subject of a number of research analyst reports. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Saturday. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Raymond James reiterated an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.78.

Tapestry Trading Up 1.2 %

The company has a market capitalization of $20.43 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58. The company has a 50-day moving average price of $70.11 and a 200-day moving average price of $54.89. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the firm earned $1.63 EPS. Research analysts predict that Tapestry, Inc. will post 4.7 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Institutional Investors Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in TPR. Vontobel Holding Ltd. grew its position in Tapestry by 4.4% during the third quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer’s stock worth $876,000 after buying an additional 789 shares in the last quarter. Bleakley Financial Group LLC bought a new position in Tapestry during the third quarter worth about $220,000. V Square Quantitative Management LLC lifted its stake in Tapestry by 6.2% during the third quarter. V Square Quantitative Management LLC now owns 6,142 shares of the luxury accessories retailer’s stock worth $289,000 after purchasing an additional 357 shares during the period. Claro Advisors LLC bought a new position in Tapestry during the third quarter worth about $194,000. Finally, Stratos Wealth Advisors LLC lifted its stake in Tapestry by 13.5% during the third quarter. Stratos Wealth Advisors LLC now owns 37,887 shares of the luxury accessories retailer’s stock worth $1,780,000 after purchasing an additional 4,505 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.