Tapestry (NYSE:TPR) Price Target Raised to $83.00 at Telsey Advisory Group

Tapestry (NYSE:TPR) had its price target upped by Telsey Advisory Group from $74.00 to $83.00 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the luxury accessories retailer’s stock.

Other equities analysts also recently issued research reports about the stock. UBS Group boosted their price objective on Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Jefferies Financial Group upped their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Robert W. Baird upped their price target on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Guggenheim lifted their price objective on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $67.28.

Tapestry Price Performance

Shares of NYSE TPR opened at $73.61 on Monday. The stock’s 50 day moving average price is $66.81 and its 200-day moving average price is $52.43. The company has a market capitalization of $17.15 billion, a PE ratio of 21.28, a PEG ratio of 2.07 and a beta of 1.58. Tapestry has a twelve month low of $35.23 and a twelve month high of $76.49. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.90%. Tapestry’s payout ratio is 40.46%.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after buying an additional 272,007 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after acquiring an additional 58,135 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after acquiring an additional 80,681 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock valued at $138,596,000 after purchasing an additional 298,409 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.