Tapestry (NYSE:TPR) Upgraded at Daiwa America

Tapestry (NYSE:TPR) was upgraded by analysts at Daiwa America to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on TPR. Citigroup boosted their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird raised their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Barclays reiterated an “equal weight” rating and set a $57.00 price objective on shares of Tapestry in a research report on Wednesday. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Tapestry Trading Down 0.6 %

TPR opened at $55.30 on Monday. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.98 and a beta of 1.53. The company has a 50-day simple moving average of $47.41 and a 200 day simple moving average of $43.32. Tapestry has a twelve month low of $30.20 and a twelve month high of $58.49.

Insider Activity 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 stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tapestry

A number of hedge funds have recently added to or reduced their stakes in TPR. TCW Group Inc. lifted its holdings in shares of Tapestry by 17.5% in the 3rd quarter. TCW Group Inc. now owns 554,104 shares of the luxury accessories retailer’s stock worth $26,032,000 after purchasing an additional 82,649 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Tapestry in the third quarter valued at $1,971,000. Fortem Financial Group LLC grew its holdings in shares of Tapestry by 11.8% during the third quarter. Fortem Financial Group LLC now owns 12,124 shares of the luxury accessories retailer’s stock valued at $570,000 after buying an additional 1,277 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Tapestry by 12.8% during the third quarter. Coldstream Capital Management Inc. now owns 8,573 shares of the luxury accessories retailer’s stock worth $406,000 after acquiring an additional 970 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after acquiring an additional 80,681 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.