Tapestry (NYSE:TPR) Given New $83.00 Price Target at Jefferies Financial Group

Tapestry (NYSE:TPR) had its price target raised by analysts at Jefferies Financial Group from $80.00 to $83.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the luxury accessories retailer’s stock. Jefferies Financial Group’s target price suggests a potential upside of 11.51% from the company’s current price.

Other research analysts have also issued research reports about the company. Telsey Advisory Group lifted their target price on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Wells Fargo & Company boosted 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. Raymond James reiterated an “outperform” rating and issued a $57.00 target price (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Finally, Citigroup upped their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.56.

Tapestry Price Performance

Shares of NYSE TPR opened at $74.43 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $75.78. The stock has a market cap of $17.35 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The stock has a fifty day moving average of $65.88 and a 200-day moving average of $51.70.

Insiders Place Their Bets

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

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its stake in shares of Tapestry by 13.2% during the second quarter. Public Sector Pension Investment Board now owns 38,919 shares of the luxury accessories retailer’s stock valued at $1,665,000 after acquiring an additional 4,528 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Tapestry in the second quarter worth about $311,000. Magnolia Capital Advisors LLC purchased a new position in Tapestry during the 2nd quarter valued at about $295,000. Creative Planning raised its position in Tapestry by 1.0% during the 2nd quarter. Creative Planning now owns 48,518 shares of the luxury accessories retailer’s stock valued at $2,076,000 after purchasing an additional 457 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Tapestry by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,118 shares of the luxury accessories retailer’s stock worth $519,000 after buying an additional 884 shares during the period. Institutional investors 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.