Tapestry Target of Unusually High Options Trading (NYSE:TPR)

Tapestry, Inc. (NYSE:TPR) saw unusually large options trading activity on Thursday. Traders bought 22,166 call options on the stock. This is an increase of 189% compared to the average daily volume of 7,663 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TPR shares. Guggenheim boosted their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Robert W. Baird upped their price target on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. BMO Capital Markets raised their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 18th. Finally, Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.28.

Tapestry Trading Up 12.6 %

Shares of TPR stock traded up $9.22 on Thursday, hitting $82.60. The stock had a trading volume of 9,299,632 shares, compared to its average volume of 4,695,897. Tapestry has a 1 year low of $35.23 and a 1 year high of $87.87. The company’s 50 day moving average price is $67.29 and its 200-day moving average price is $52.80. The firm has a market capitalization of $19.25 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.07 and a beta of 1.58. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 36.26% and a net margin of 12.12%. During the same quarter last year, the company earned $1.63 EPS. Analysts anticipate that Tapestry will post 4.63 earnings per share for the current year.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by insiders.

Institutional Trading of Tapestry

Large investors have recently made changes to their positions in the company. Waldron Private Wealth LLC purchased a new position in shares of Tapestry in the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC increased its position in Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the period. Brooklyn Investment Group purchased a new position in Tapestry during the 3rd quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Tapestry in the 2nd quarter valued at approximately $68,000. Finally, Deseret Mutual Benefit Administrators raised its position in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Company Profile

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.