Tapestry (NYSE:TPR) Trading Down 2.6%

Tapestry, Inc. (NYSE:TPR) traded down 2.6% during trading on Tuesday . The stock traded as low as $38.73 and last traded at $39.27. 1,065,985 shares traded hands during trading, a decline of 71% from the average session volume of 3,717,196 shares. The stock had previously closed at $40.31.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. Finally, Raymond James raised their price objective on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Trading Up 1.5 %

The firm has a market capitalization of $9.18 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.81 and a beta of 1.57. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The firm’s 50-day simple moving average is $45.28 and its 200-day simple moving average is $37.83.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bell Investment Advisors Inc raised its stake in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after acquiring an additional 1,209 shares in the last quarter. AllSquare Wealth Management LLC increased its stake in shares of Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Tapestry by 56.9% in the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock worth $53,000 after buying an additional 668 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Tapestry by 334.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock worth $55,000 after buying an additional 1,158 shares during the period. 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.