Jefferies Financial Group Boosts Tapestry (NYSE:TPR) Price Target to $83.00

Tapestry (NYSE:TPR) had its target price upped by investment analysts at Jefferies Financial Group from $80.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 11.51% from the stock’s current price.

Other analysts also recently issued reports about the company. Citigroup raised their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America raised their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. UBS Group increased their target price on Tapestry from $57.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.56.

Tapestry Trading Up 0.9 %

NYSE:TPR opened at $74.43 on Tuesday. Tapestry has a 12 month low of $35.23 and a 12 month high of $75.78. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.07 and a beta of 1.58. The firm has a fifty day simple moving average of $65.88 and a two-hundred day simple moving average of $51.70.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in shares of Tapestry by 5.8% during the 4th quarter. Van ECK Associates Corp now owns 117,652 shares of the luxury accessories retailer’s stock valued at $7,686,000 after acquiring an additional 6,468 shares during the period. Essex Financial Services Inc. purchased a new position in Tapestry in the fourth quarter valued at approximately $213,000. Coronation Fund Managers Ltd. lifted its stake in Tapestry by 4.5% in the fourth quarter. Coronation Fund Managers Ltd. now owns 673,233 shares of the luxury accessories retailer’s stock valued at $43,982,000 after purchasing an additional 29,091 shares during the last quarter. Martin Capital Advisors LLP bought a new position in Tapestry during the fourth quarter valued at $213,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Tapestry in the fourth quarter worth $121,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.