Tapestry (NYSE:TPR) Rating Lowered to Hold at StockNews.com

Tapestry (NYSE:TPR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

TPR has been the topic of a number of other reports. Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. Barclays lifted their price target on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. Finally, Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Trading Down 0.4 %

TPR opened at $84.29 on Tuesday. The business has a fifty day moving average price of $73.04 and a 200 day moving average price of $57.08. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last announced its quarterly earnings data 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 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Sell-side analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,430 shares of company stock valued at $3,957,601. Insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

Hedge funds and other institutional investors have recently made changes to their positions in the company. Greenline Partners LLC acquired a new stake in Tapestry in the fourth quarter valued at about $29,000. Coppell Advisory Solutions LLC raised its stake in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during 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 in the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry in the 4th quarter valued at approximately $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Tapestry in the third quarter valued at approximately $47,000. 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.