Tapestry, Inc. (NYSE:TPR) Given Average Recommendation of “Moderate Buy” by Analysts

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

A number of research firms recently commented on TPR. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Telsey Advisory Group upped their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. BMO Capital Markets increased their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group upped their price target on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th.

Tapestry Stock Down 1.6 %

TPR opened at $84.04 on Thursday. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.85. 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 business’s 50-day moving average price is $75.17 and its 200-day moving average price is $58.72. The company has a market cap 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 (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 period in the previous year, the company posted $1.63 EPS. On average, equities analysts expect that Tapestry will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Transactions at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

Hedge Funds Weigh In On Tapestry

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

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.