Tapestry, Inc. (NYSE:TPR) Receives $47.43 Average PT from Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $51.75.

TPR has been the topic of a number of research reports. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research note on Tuesday. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup increased their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, UBS Group cut their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th.

Institutional Trading of Tapestry

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in Tapestry by 1,328.8% in the 1st quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock valued at $1,432,000 after purchasing an additional 28,038 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Tapestry in the 2nd quarter valued at approximately $3,718,000. Lazard Asset Management LLC increased its holdings in Tapestry by 611.8% in the 1st quarter. Lazard Asset Management LLC now owns 63,617 shares of the luxury accessories retailer’s stock valued at $3,019,000 after purchasing an additional 54,679 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Tapestry in the 1st quarter valued at approximately $54,055,000. Finally, SG Americas Securities LLC boosted its position in Tapestry by 174.8% in the 1st quarter. SG Americas Securities LLC now owns 95,076 shares of the luxury accessories retailer’s stock valued at $4,514,000 after buying an additional 60,480 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Down 2.9 %

TPR stock opened at $49.02 on Friday. The company’s 50-day simple moving average is $43.91 and its 200-day simple moving average is $42.00. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. Tapestry has a 52-week low of $25.99 and a 52-week high of $51.96. The firm has a market cap of $11.26 billion, a P/E ratio of 12.97, a PEG ratio of 1.67 and a beta of 1.53.

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, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Tapestry will post 4.47 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were issued a $0.35 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.86%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.