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 presently covering the stock, Marketbeat reports. Five investment 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 brokerages that have updated their coverage on the stock in the last year is $78.53.

A number of analysts recently issued reports on TPR shares. Raymond James reissued an “outperform” rating and set a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Jefferies Financial Group raised their price target on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group boosted their price target on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their target price 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.

Insider Activity

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the company’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 value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 sale, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tapestry

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenline Partners LLC bought a new position in Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted its position in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Venturi Wealth Management LLC lifted its holdings in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the period. Brooklyn Investment Group bought a new position in Tapestry in the third quarter valued at approximately $47,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in Tapestry in the fourth quarter valued at approximately $48,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $70.25 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company has a 50 day simple moving average of $77.65 and a 200-day simple moving average of $62.79. Tapestry has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted $1.63 earnings per share. Equities research analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.99%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

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.