Tapestry (NYSE:TPR) Upgraded at StockNews.com

StockNews.com upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a report published on Monday.

Several other research firms have also recently weighed in on TPR. Guggenheim boosted their target price on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price 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. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Price Performance

Shares of TPR opened at $74.80 on Monday. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.01 and a beta of 1.57. The firm’s fifty day simple moving average is $77.63 and its 200-day simple moving average is $63.59. Tapestry has a twelve month low of $35.23 and a twelve 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.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating 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 firm earned $1.63 EPS. Equities analysts forecast that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business’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 transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 in the last three months. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coppell Advisory Solutions LLC increased its holdings in shares of Tapestry by 40.7% in 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 in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after acquiring an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Tapestry by 0.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after acquiring an additional 170 shares during the period. Parkside Financial Bank & Trust increased its stake in Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Tapestry by 25.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer’s stock worth $68,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds 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.