Tapestry, Inc. (NYSE:TPR) Receives Average Rating of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $61.24.

Several equities research analysts recently issued reports on TPR shares. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Robert W. Baird boosted their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Citigroup raised their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI upped their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

Tapestry Trading Down 0.3 %

Shares of TPR stock opened at $67.43 on Wednesday. The firm’s 50 day moving average price is $59.79 and its two-hundred day moving average price is $48.48. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $69.09. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Redwood Investment Management LLC grew its holdings in Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after buying an additional 204 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after buying an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after purchasing an additional 218 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after buying an additional 251 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after purchasing an additional 280 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.