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

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $57.82.

TPR has been the subject of several recent analyst reports. Raymond James reiterated an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Wells Fargo & Company raised their target price on Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group raised their target price on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Tapestry Stock Performance

Shares of TPR stock opened at $56.55 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry has a fifty-two week low of $30.19 and a fifty-two week high of $58.49. The stock’s 50-day moving average is $46.85 and its two-hundred day moving average is $43.12. The firm has a market cap of $13.18 billion, a P/E ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.48%. Tapestry’s payout ratio is presently 40.46%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the company’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 sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

Several institutional investors and hedge funds have recently bought and sold shares of TPR. Waldron Private Wealth LLC bought a new stake in Tapestry in the third quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the period. Brooklyn Investment Group bought a new stake in Tapestry in the third quarter valued at approximately $47,000. Blue Trust Inc. raised its stake in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after buying an additional 556 shares during the period. Finally, MUFG Securities EMEA plc raised its stake in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares during the period. 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.