Tapestry (NYSE:TPR) Price Target Increased to $52.00 by Analysts at The Goldman Sachs Group

Tapestry (NYSE:TPR) had its target price lifted by The Goldman Sachs Group from $47.00 to $52.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the luxury accessories retailer’s stock.

TPR has been the topic of several other reports. UBS Group decreased their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lowered their price objective on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Evercore ISI cut their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Citigroup decreased their price target on Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.43.

Tapestry Trading Down 1.4 %

Shares of TPR stock opened at $44.51 on Monday. The stock has a market cap of $10.23 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The stock has a 50 day simple moving average of $42.87 and a 200 day simple moving average of $41.79.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. On average, research analysts predict that Tapestry will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.15%. Tapestry’s dividend payout ratio is presently 37.04%.

Hedge Funds Weigh In On Tapestry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new stake in shares of Tapestry in the first quarter worth $35,000. BNP Paribas acquired a new stake in shares of Tapestry in the first quarter valued at about $38,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the period. Blue Trust Inc. raised its position in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the last quarter. Finally, MUFG Securities EMEA plc lifted its stake in shares of Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.