Traders Buy High Volume of Tapestry Call Options (NYSE:TPR)

Tapestry, Inc. (NYSE:TPR) was the target of unusually large options trading on Thursday. Stock investors bought 22,166 call options on the stock. This represents an increase of approximately 189% compared to the average daily volume of 7,663 call options.

Tapestry Price Performance

Shares of Tapestry stock opened at $82.07 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The business’s 50 day simple moving average is $67.72 and its two-hundred day simple moving average is $53.01. The stock has a market capitalization of $19.13 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry has a one year low of $35.23 and a one year high of $87.87.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same period in the previous year, the company posted $1.63 EPS. Analysts forecast that Tapestry will post 4.63 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Telsey Advisory Group raised their price target on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Wells Fargo & Company raised their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets raised their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Finally, The Goldman Sachs Group raised their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $67.28.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tapestry

Large investors have recently made changes to their positions in the business. Waldron Private Wealth LLC bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC grew its position in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the third quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tapestry during the second quarter valued at approximately $68,000. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. 90.77% of the stock is currently owned by 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.