Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have earned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $78.53.

TPR has been the topic of several research analyst reports. The Goldman Sachs Group raised their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Guggenheim boosted their price target on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Evercore ISI upped their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st.

Tapestry Price Performance

Shares of NYSE:TPR opened at $86.43 on Thursday. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.01 and a beta of 1.58. The business has a 50 day moving average price of $73.93 and a 200 day moving average price of $57.61. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $1.63 earnings per share. Research analysts predict that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the transaction, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated 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 sale, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 in the last three months. Insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Greenline Partners LLC bought a new position in Tapestry in the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC lifted its stake in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Venturi Wealth Management LLC boosted its holdings in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Tapestry in the third quarter worth about $47,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Tapestry during the 4th quarter worth about $48,000. Institutional investors and hedge funds 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.