Tapestry, Inc. (NYSE:TPR) Receives $46.13 Consensus Price Target from Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $46.13.

A number of equities research analysts have weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, August 15th. Evercore ISI decreased their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Argus reissued a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. Citigroup cut their price target on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in Tapestry during the first quarter valued at approximately $35,000. BNP Paribas bought a new stake in shares of Tapestry during the 1st quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV lifted 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 acquiring an additional 328 shares during the last quarter. Blue Trust Inc. lifted its stake in Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the last quarter. Finally, MUFG Securities EMEA plc boosted its stake in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE:TPR opened at $40.36 on Thursday. The firm’s 50-day moving average is $40.40 and its 200-day moving average is $42.36. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.52 and a beta of 1.54. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. Tapestry has a 52-week low of $25.99 and a 52-week high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Tapestry will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 3.47%. Tapestry’s dividend payout ratio (DPR) is currently 37.04%.

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.