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

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $48.53.

Several equities research analysts recently commented on the company. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Robert W. Baird cut their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Bernstein Bank raised their target price on Tapestry from $46.00 to $48.00 in a research note on Thursday, May 9th. Argus reissued a “buy” rating and set a $52.00 target price on shares of Tapestry in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, May 10th.

Tapestry Price Performance

NYSE:TPR opened at $41.63 on Friday. Tapestry has a one year low of $25.99 and a one year high of $48.80. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The stock has a market cap of $9.56 billion, a PE ratio of 11.01, a P/E/G ratio of 0.89 and a beta of 1.60. The stock has a 50 day moving average price of $41.39 and a 200 day moving average price of $41.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts expect that Tapestry will post 4.22 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 2,500 shares of Tapestry stock in a transaction on Friday, May 24th. The stock was sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the transaction, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. Fidelis Capital Partners LLC purchased a new stake in Tapestry during the 1st quarter worth about $35,000. BNP Paribas purchased a new stake in Tapestry during the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its holdings in Tapestry by 3,778.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 1,209 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock worth $53,000 after buying an additional 668 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other 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.