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

Shares of Tapestry, Inc. (NYSE:TPRGet Free Report) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $48.31.

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased 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 shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Bernstein Bank upped their price target on shares of Tapestry from $46.00 to $48.00 in a research note on Thursday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, Robert W. Baird decreased their target price on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th.

Check Out Our Latest Analysis on Tapestry

Insider Activity

In related news, VP Manesh Dadlani sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the transaction, the vice president now owns 37,173 shares of the company’s stock, valued at approximately $1,569,815.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tapestry

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bell Investment Advisors Inc grew its position in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Tapestry during the 1st quarter worth about $35,000. BNP Paribas bought a new position in Tapestry during the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC increased its position in Tapestry by 3,778.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 1,209 shares during the period. Finally, AllSquare Wealth Management LLC raised its holdings in shares of Tapestry by 35.1% in the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock valued at $47,000 after purchasing an additional 423 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Up 2.7 %

Shares of TPR opened at $43.49 on Tuesday. The firm has a market cap of $9.99 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a 50 day simple moving average of $41.98 and a two-hundred day simple moving average of $40.29.

Tapestry (NYSE:TPRGet Free Report) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. Tapestry’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. On average, equities analysts expect that Tapestry will post 4.22 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.22%. Tapestry’s payout ratio is 37.04%.

Tapestry Company Profile

(Get Free Report

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.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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