Tapestry (NYSE:TPR) Given New $74.00 Price Target at Evercore ISI

Tapestry (NYSE:TPR) had its price target lifted by Evercore ISI from $68.00 to $74.00 in a research note released on Monday,Benzinga reports. They currently have an outperform rating on the luxury accessories retailer’s stock.

A number of other research analysts have also weighed in on TPR. Robert W. Baird lifted their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Jefferies Financial Group raised shares of Tapestry from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $80.00 in a research note on Thursday, December 19th. Raymond James reaffirmed an “outperform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.39.

Tapestry Stock Down 3.0 %

Tapestry stock opened at $72.43 on Monday. The company’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $51.33. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $75.78. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.07 and a beta of 1.58. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. Tapestry’s payout ratio is presently 40.46%.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

Several institutional investors and hedge funds have recently bought and sold shares of TPR. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tapestry by 19.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,705 shares of the luxury accessories retailer’s stock worth $12,562,000 after acquiring an additional 31,002 shares during the last quarter. WT Asset Management Ltd bought a new position in shares of Tapestry in the fourth quarter worth about $42,762,000. Yousif Capital Management LLC lifted its holdings in shares of Tapestry by 20.8% in the fourth quarter. Yousif Capital Management LLC now owns 39,091 shares of the luxury accessories retailer’s stock worth $2,554,000 after acquiring an additional 6,729 shares during the last quarter. Guidance Capital Inc. bought a new position in shares of Tapestry in the fourth quarter worth about $790,000. Finally, Mather Group LLC. lifted its holdings in shares of Tapestry by 8.0% in the fourth quarter. Mather Group LLC. now owns 5,853 shares of the luxury accessories retailer’s stock worth $382,000 after acquiring an additional 435 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.