Tapestry, Inc. (NYSE:TPR) Receives $57.82 Consensus Price Target from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $57.78.

A number of equities research analysts recently commented on the company. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Bank of America raised their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird raised their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Telsey Advisory Group upped their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after buying an additional 2,087,586 shares during the period. Erste Asset Management GmbH purchased a new position in Tapestry in the 3rd quarter worth $64,016,000. Clearbridge Investments LLC bought a new stake in Tapestry in the first quarter worth $54,055,000. AQR Capital Management LLC boosted its position in Tapestry by 235.9% during the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after buying an additional 1,051,743 shares during the period. Finally, Coronation Fund Managers Ltd. increased its holdings in shares of Tapestry by 265.1% in the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock worth $44,700,000 after buying an additional 758,539 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 1.8 %

Shares of NYSE:TPR opened at $56.30 on Tuesday. The company’s fifty day moving average is $47.70 and its 200-day moving average is $43.41. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry has a 52 week low of $30.20 and a 52 week high of $58.49. The company has a market capitalization of $13.12 billion, a PE ratio of 16.27, a P/E/G ratio of 1.92 and a beta of 1.53.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.49%. 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.