Tapestry (NYSE:TPR) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has $80.00 price target on the luxury accessories retailer’s stock, up from their previous price target of $50.00.

TPR has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Raymond James reaffirmed an “outperform” rating and set a $57.00 target price (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Telsey Advisory Group boosted their price target on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Wells Fargo & Company raised their price objective on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI lifted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.24.

Tapestry Stock Up 2.4 %

TPR stock opened at $64.15 on Thursday. The stock’s 50 day moving average is $55.03 and its 200-day moving average is $46.44. Tapestry has a twelve month low of $35.23 and a twelve month high of $65.30. The firm has a market capitalization of $14.95 billion, a PE ratio of 18.54, a P/E/G ratio of 1.80 and a beta of 1.60. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.18%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new stake in Tapestry during the third quarter valued at about $25,000. Brooklyn Investment Group purchased a new stake in Tapestry during the 3rd quarter valued at about $47,000. Blue Trust Inc. grew its position in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the last quarter. MUFG Securities EMEA plc increased its stake in Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in Tapestry in the second quarter valued at approximately $53,000. 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.