Tapestry (NYSE:TPR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a research note published on Monday.

TPR has been the topic of several other research reports. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, February 18th. Robert W. Baird boosted their price target on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barclays raised their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Raymond James restated an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Price Performance

NYSE:TPR opened at $70.44 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry has a one year low of $35.23 and a one year high of $90.85. The company has a fifty day moving average price of $77.63 and a 200 day moving average price of $63.29. The stock has a market cap of $14.58 billion, a P/E ratio of 20.42, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the company earned $1.63 earnings per share. Analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Thursday, March 6th. Tapestry’s payout ratio is presently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last ninety days. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Tapestry

Hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in Tapestry during the 4th quarter valued at about $328,000. Charles Schwab Investment Management Inc. lifted its holdings in Tapestry by 5.0% in 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 buying an additional 382,856 shares during the period. Decker Retirement Planning Inc. acquired a new position in Tapestry in the fourth quarter valued at approximately $3,437,000. Principal Financial Group Inc. grew its holdings in Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after acquiring an additional 39,298 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Tapestry by 10.6% during the 3rd quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer’s stock valued at $7,442,000 after acquiring an additional 15,585 shares during the last quarter. 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.