Tapestry (NYSE:TPR) Rating Lowered to Hold at StockNews.com

Tapestry (NYSE:TPR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued research reports about the company. Evercore ISI upped their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group upped their price objective on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Jefferies Financial Group boosted their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird upped their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Performance

NYSE:TPR opened at $62.74 on Tuesday. The firm has a market capitalization of $12.99 billion, a PE ratio of 18.19, a PEG ratio of 2.01 and a beta of 1.37. The stock’s fifty day moving average is $77.03 and its 200 day moving average is $64.16. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the firm posted $1.63 earnings per share. On average, sell-side analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 in the last three months. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenline Partners LLC purchased a new position in shares of Tapestry during the fourth quarter worth $29,000. Coppell Advisory Solutions LLC raised its stake in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Tapestry in the fourth quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer’s stock worth $68,000 after buying an additional 194 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.