Tapestry (NYSE:TPR) Price Target Increased to $66.00 by Analysts at JPMorgan Chase & Co.

Tapestry (NYSE:TPR) had its price objective increased by JPMorgan Chase & Co. from $51.00 to $66.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the luxury accessories retailer’s stock.

A number of other analysts have also issued reports on TPR. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group upped their price target on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 21st. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Finally, Citigroup reduced their target price on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.73.

Tapestry Trading Down 0.0 %

Shares of TPR stock opened at $50.47 on Friday. Tapestry has a 12 month low of $25.99 and a 12 month high of $51.96. The company has a market cap of $11.60 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $43.74 and its two-hundred day moving average is $41.95.

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

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.77%. Tapestry’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lebenthal Global Advisors LLC raised its position in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after acquiring an additional 215 shares during the last quarter. IRON Financial LLC acquired a new stake in Tapestry in the third quarter worth about $220,000. abrdn plc raised its holdings in Tapestry by 4.7% during the 3rd quarter. abrdn plc now owns 39,127 shares of the luxury accessories retailer’s stock worth $1,840,000 after purchasing an additional 1,756 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in Tapestry by 196.7% during the 3rd quarter. Pallas Capital Advisors LLC now owns 17,195 shares of the luxury accessories retailer’s stock valued at $765,000 after purchasing an additional 11,399 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Tapestry by 23.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 67,622 shares of the luxury accessories retailer’s stock valued at $3,177,000 after purchasing an additional 12,752 shares during the last quarter. Institutional investors and hedge funds 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.