Tapestry, Inc. (NYSE:TPR) Given Average Recommendation of “Moderate Buy” by Analysts

Tapestry, Inc. (NYSE:TPR) has been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $78.53.

TPR has been the topic of several recent research reports. Robert W. Baird increased their target price on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Jefferies Financial Group increased their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Apollon Wealth Management LLC purchased a new stake in shares of Tapestry during the fourth quarter worth about $328,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after purchasing an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $3,437,000. Westfield Capital Management Co. LP lifted its holdings in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock valued at $20,195,000 after purchasing an additional 39,298 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

TPR stock opened at $72.99 on Monday. The firm has a market cap of $15.11 billion, a PE ratio of 21.16, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business has a 50 day moving average of $77.17 and a 200-day moving average of $61.96. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the business earned $1.63 EPS. As a group, sell-side analysts expect that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. Tapestry’s dividend payout ratio is presently 40.58%.

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.