Telsey Advisory Group restated their outperform rating on shares of Tapestry (NYSE:TPR – Free Report) in a report released on Thursday morning, Benzinga reports. They currently have a $49.00 target price on the luxury accessories retailer’s stock.
Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Tapestry from $56.00 to $41.00 and set an overweight rating on the stock in a research note on Monday, November 13th. TheStreet upgraded Tapestry from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. The Goldman Sachs Group cut their target price on Tapestry from $46.00 to $41.00 and set a buy rating on the stock in a research note on Friday, November 10th. Finally, Wells Fargo & Company boosted their target price on Tapestry from $50.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $47.59.
Tapestry Stock Performance
Tapestry (NYSE:TPR – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.29% and a net margin of 14.03%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Equities analysts forecast that Tapestry will post 4.1 earnings per share for the current fiscal year.
Tapestry Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 8th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. Tapestry’s dividend payout ratio is currently 35.62%.
Institutional Investors Weigh In On Tapestry
Several institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC purchased a new stake in shares of Tapestry during the fourth quarter worth $224,000. Panagora Asset Management Inc. lifted its position in shares of Tapestry by 162.7% during the fourth quarter. Panagora Asset Management Inc. now owns 288,282 shares of the luxury accessories retailer’s stock worth $10,612,000 after acquiring an additional 178,563 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Tapestry during the fourth quarter worth $52,121,000. OMNI 360 Wealth Inc. bought a new position in shares of Tapestry in the fourth quarter worth $396,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Tapestry by 130.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock worth $55,000 after purchasing an additional 848 shares during the period. Hedge funds and other institutional investors own 92.12% of the company’s stock.
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.
- Five stocks we like better than Tapestry
- How to invest in marijuana stocks in 7 steps
- New York Community Bank stock plummets amid real estate risks
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- The 5 best small cap AI companies to buy now
- How to Invest in Apparel Stocks
- Cirrus Logic: A chip stock you’re going to hear a lot more about
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.