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

Shares of Tapestry, Inc. (NYSE:TPR) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $47.81.

TPR has been the topic of several analyst reports. Wells Fargo & Company raised their target price on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. The Goldman Sachs Group raised their price target on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in shares of Tapestry during the third quarter worth about $118,000. Commonwealth Equity Services LLC increased its stake in shares of Tapestry by 9.8% in the third quarter. Commonwealth Equity Services LLC now owns 39,632 shares of the luxury accessories retailer’s stock valued at $1,139,000 after purchasing an additional 3,540 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Tapestry by 30.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,014 shares of the luxury accessories retailer’s stock worth $345,000 after buying an additional 2,788 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Tapestry by 3.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 27,516 shares of the luxury accessories retailer’s stock valued at $791,000 after acquiring an additional 1,031 shares during the period. Finally, Raymond James & Associates boosted its position in Tapestry by 83.8% during the 3rd quarter. Raymond James & Associates now owns 492,831 shares of the luxury accessories retailer’s stock worth $14,169,000 after acquiring an additional 224,749 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 1.2 %

TPR stock opened at $38.99 on Friday. Tapestry has a one year low of $25.99 and a one year high of $48.80. The firm has a market cap of $8.94 billion, a PE ratio of 9.85, a PEG ratio of 0.81 and a beta of 1.61. The firm’s 50 day moving average price is $43.95 and its 200-day moving average price is $38.62. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25.

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

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.59%. Tapestry’s payout ratio is 35.35%.

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.