Tapestry, Inc. (NYSE:TPR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tapestry, Inc. (NYSE:TPRGet Rating) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $44.14.

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Tapestry to $38.00 in a research note on Wednesday, November 16th. TheStreet raised shares of Tapestry from a “c+” rating to a “b-” rating in a research note on Monday, September 26th. Citigroup decreased their target price on shares of Tapestry from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, November 14th. Evercore ISI boosted their target price on shares of Tapestry to $55.00 in a research note on Monday, August 22nd. Finally, Morgan Stanley boosted their target price on shares of Tapestry from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 17th.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 2,005 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.81, for a total value of $73,804.05. Following the transaction, the vice president now owns 33,681 shares in the company, valued at $1,239,797.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tapestry

Hedge funds and other institutional investors have recently bought and sold shares of the company. Toroso Investments LLC raised its holdings in shares of Tapestry by 15.2% during the third quarter. Toroso Investments LLC now owns 15,122 shares of the luxury accessories retailer’s stock valued at $430,000 after purchasing an additional 1,994 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Tapestry during the third quarter valued at about $33,655,000. Industrial Alliance Investment Management Inc. raised its holdings in shares of Tapestry by 254.3% during the third quarter. Industrial Alliance Investment Management Inc. now owns 461,150 shares of the luxury accessories retailer’s stock valued at $13,110,000 after purchasing an additional 330,986 shares during the period. M&T Bank Corp raised its holdings in shares of Tapestry by 5.5% during the third quarter. M&T Bank Corp now owns 82,671 shares of the luxury accessories retailer’s stock valued at $2,349,000 after purchasing an additional 4,292 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of Tapestry by 11.4% during the third quarter. Captrust Financial Advisors now owns 16,269 shares of the luxury accessories retailer’s stock valued at $463,000 after purchasing an additional 1,663 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $36.96 on Friday. The company’s 50 day simple moving average is $31.95 and its 200 day simple moving average is $32.79. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.82 and a quick ratio of 0.95. Tapestry has a 1 year low of $26.39 and a 1 year high of $45.03.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 27th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, December 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.25%. Tapestry’s dividend payout ratio (DPR) is presently 38.10%.

About Tapestry

(Get Rating)

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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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