Tapestry’s (TPR) “Outperform” Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Tapestry (NYSE:TPR) in a research note issued to investors on Friday,Benzinga reports. Raymond James currently has a $88.00 target price on the luxury accessories retailer’s stock, up from their previous target price of $79.00.

A number of other research analysts have also weighed in on the company. UBS Group raised their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets raised their target price on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Finally, Barclays raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $57.00 to $87.00 in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Tapestry Trading Down 2.3 %

TPR stock opened at $80.28 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38. Tapestry has a 1-year low of $35.23 and a 1-year high of $87.87. The business has a 50 day simple moving average of $68.08 and a two-hundred day simple moving average of $53.45. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the business earned $1.63 earnings per share. Research analysts anticipate that Tapestry will post 4.7 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s 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 approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC bought a new stake in Tapestry during the 3rd quarter valued at $25,000. Venturi Wealth Management LLC raised its holdings in shares of 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 in the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry in the third quarter valued at about $47,000. Deseret Mutual Benefit Administrators lifted its stake in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

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.