Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $78.53.

TPR has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird increased their target price on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Jefferies Financial Group upped their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Raymond James reissued an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th.

Tapestry Price Performance

Tapestry stock opened at $70.25 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $14.54 billion, a P/E ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57. The business has a 50-day moving average of $77.65 and a 200-day moving average of $62.79. Tapestry has a 1 year low of $35.23 and a 1 year high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $1.63 earnings per share. On average, equities analysts anticipate that Tapestry will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid 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 is presently 40.58%.

Insider Buying and Selling

In other news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock worth $5,730,589. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TPR. GSA Capital Partners LLP acquired a new stake in Tapestry in the 3rd quarter worth about $237,000. Caprock Group LLC acquired a new stake in shares of Tapestry in the third quarter valued at approximately $240,000. Cerity Partners LLC boosted its stake in shares of Tapestry by 179.1% in the third quarter. Cerity Partners LLC now owns 116,106 shares of the luxury accessories retailer’s stock valued at $5,455,000 after buying an additional 74,509 shares during the period. Kingsview Wealth Management LLC grew its position in Tapestry by 25.3% during the third quarter. Kingsview Wealth Management LLC now owns 6,661 shares of the luxury accessories retailer’s stock worth $313,000 after buying an additional 1,346 shares in the last quarter. Finally, Algert Global LLC increased its stake in Tapestry by 17.3% during the 3rd quarter. Algert Global LLC now owns 45,054 shares of the luxury accessories retailer’s stock worth $2,117,000 after acquiring an additional 6,640 shares during the period. 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.