Tapestry (NYSE:TPR) Price Target Raised to $100.00

Tapestry (NYSE:TPR) had its price target upped by Barclays from $87.00 to $100.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the luxury accessories retailer’s stock.

Other equities analysts have also recently issued reports about the company. Guggenheim lifted their price target on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Telsey Advisory Group upped their price target on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Tapestry Price Performance

NYSE TPR opened at $80.28 on Friday. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a market cap of $18.71 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. Tapestry has a 52 week low of $35.23 and a 52 week high of $87.87. The firm’s 50-day simple moving average is $68.08 and its two-hundred day simple moving average is $53.45.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the company posted $1.63 EPS. Research analysts predict that Tapestry will post 4.7 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Insiders Place Their Bets

In other 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 transaction 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. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several institutional investors have recently bought and sold shares of TPR. Marshall Wace LLP bought a new stake in Tapestry in the second quarter valued at approximately $311,000. Cetera Investment Advisers increased its stake in shares of Tapestry by 4.7% in the second quarter. Cetera Investment Advisers now owns 55,669 shares of the luxury accessories retailer’s stock worth $2,382,000 after buying an additional 2,513 shares during the period. Sanctuary Advisors LLC bought a new stake in Tapestry during the 2nd quarter valued at $1,025,000. Czech National Bank boosted its position in Tapestry by 7.1% during the 3rd quarter. Czech National Bank now owns 46,898 shares of the luxury accessories retailer’s stock valued at $2,203,000 after buying an additional 3,113 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after acquiring an additional 280 shares during the last quarter. 90.77% of the stock is currently 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.