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

Tapestry, Inc. (NYSE:TPR) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $47.07.

A number of equities analysts recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, August 15th. Argus reiterated a “buy” rating and set a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. Wells Fargo & Company dropped their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 16th.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Tapestry by 0.9% during the 1st quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock valued at $1,275,000 after acquiring an additional 237 shares during the period. Mather Group LLC. lifted its position in Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. increased its holdings in Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after buying an additional 257 shares during the period. Empirical Finance LLC raised its position in shares of Tapestry by 3.3% in the 1st quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after buying an additional 276 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its position in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 2.0 %

NYSE:TPR opened at $47.94 on Monday. Tapestry has a twelve month low of $25.99 and a twelve month high of $48.80. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average price is $40.94 and its two-hundred day moving average price is $41.92.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts expect that Tapestry will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. Tapestry’s payout ratio is 37.04%.

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.