Tapestry, Inc. (NYSE:TPR) Receives Average Rating of “Moderate Buy” from Brokerages

Tapestry, Inc. (NYSE:TPR) has received an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $78.53.

Several equities analysts have recently weighed in on TPR shares. Robert W. Baird increased their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group boosted their price target on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th.

Tapestry Price Performance

TPR opened at $84.04 on Thursday. The company’s 50-day simple moving average is $75.17 and its two-hundred day simple moving average is $58.72. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market capitalization of $17.40 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business earned $1.63 earnings per share. As a group, analysts predict that Tapestry will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.67%. Tapestry’s payout ratio is 40.58%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 in the last three months. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.