Tapestry, Inc. (NYSE:TPR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $61.24.

A number of brokerages have recently issued reports on TPR. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Telsey Advisory Group increased their price target on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Evercore ISI boosted their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets lifted their price target on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred 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 transaction, 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 SEC, which is available through this link. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in TPR. Everence Capital Management Inc. acquired a new stake in Tapestry during the fourth quarter worth about $362,000. GAMMA Investing LLC grew its stake in shares of Tapestry by 23.8% during the 4th quarter. GAMMA Investing LLC now owns 7,544 shares of the luxury accessories retailer’s stock worth $493,000 after purchasing an additional 1,449 shares during the period. Retirement Systems of Alabama grew its position in Tapestry by 1.0% during the third quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer’s stock valued at $2,404,000 after buying an additional 493 shares during the period. Franklin Resources Inc. raised its holdings in Tapestry by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer’s stock worth $7,442,000 after purchasing an additional 15,585 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Tapestry by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 27,401 shares of the luxury accessories retailer’s stock worth $1,287,000 after buying an additional 481 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $67.43 on Wednesday. The business’s 50 day moving average is $59.79 and its 200-day moving average is $48.48. The firm has a market capitalization of $15.71 billion, a PE ratio of 19.49, a PEG ratio of 1.80 and a beta of 1.58. Tapestry has a 1-year low of $35.23 and a 1-year high of $69.09. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. Tapestry’s payout ratio is 40.46%.

Tapestry Company Profile

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.