Tapestry’s (TPR) Equal Weight Rating Reiterated at Barclays

Barclays reaffirmed their equal weight rating on shares of Tapestry (NYSE:TPR) in a research note published on Wednesday, Marketbeat reports. They currently have a $57.00 price target on the luxury accessories retailer’s stock.

A number of other research analysts have also recently commented on the company. Citigroup boosted their price objective on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Bank of America upped their price target on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Stock Performance

Shares of TPR stock opened at $58.92 on Wednesday. The company’s fifty day simple moving average is $48.02 and its 200-day simple moving average is $43.54. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry has a 52 week low of $30.20 and a 52 week high of $59.69. The company has a market cap of $13.73 billion, a PE ratio of 17.03, a P/E/G ratio of 1.92 and a beta of 1.53.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $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 is available at this link. 1.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blair William & Co. IL bought a new position in Tapestry in the 1st quarter worth approximately $216,000. UniSuper Management Pty Ltd lifted its stake in shares of Tapestry by 845.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 18,729 shares of the luxury accessories retailer’s stock worth $889,000 after acquiring an additional 16,748 shares during the period. Bessemer Group Inc. increased its stake in shares of Tapestry by 1,328.8% during the first quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock valued at $1,432,000 after acquiring an additional 28,038 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Tapestry by 4.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 149,304 shares of the luxury accessories retailer’s stock valued at $7,095,000 after purchasing an additional 6,813 shares in the last quarter. Finally, Natixis raised its stake in shares of Tapestry by 62.3% in the 1st quarter. Natixis now owns 19,788 shares of the luxury accessories retailer’s stock worth $940,000 after buying an additional 7,593 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.