Tapestry, Inc. (NYSE:TPR) Given Average Recommendation of “Moderate Buy” by Analysts

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.94.

Several equities analysts recently issued reports on the stock. Raymond James restated an “outperform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. BMO Capital Markets boosted 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. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group dropped their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Telsey Advisory Group boosted their target price on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in shares of Tapestry in the 3rd quarter worth $47,000. Blue Trust Inc. grew its holdings in shares of Tapestry by 111.9% during 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. MUFG Securities EMEA plc grew its holdings 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 valued at $52,000 after purchasing an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of Tapestry during the 2nd quarter valued at $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE:TPR opened at $63.20 on Friday. The firm has a market cap of $14.73 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The firm’s fifty day moving average is $53.20 and its 200-day moving average is $45.72. 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 $35.06 and a 52 week high of $65.30.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is presently 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.