Tapestry, Inc. (NYSE:TPR) Receives $47.81 Average Price Target from Brokerages

Tapestry, Inc. (NYSE:TPR) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat 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 target among analysts that have issued ratings on the stock in the last year is $47.81.

TPR has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and raised their target price for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Thursday, February 29th. Raymond James increased their target price on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPR. CWM LLC increased its holdings in shares of Tapestry by 0.9% during the first quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock valued at $1,275,000 after acquiring an additional 237 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Tapestry by 5.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock valued at $157,000 after purchasing an additional 297 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Tapestry by 0.3% in the third quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock worth $3,158,000 after buying an additional 353 shares during the last quarter. Sowell Financial Services LLC raised its holdings in Tapestry by 2.1% in the third quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock worth $527,000 after buying an additional 381 shares during the last quarter. Finally, AllSquare Wealth Management LLC lifted its stake in shares of Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $39.24 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61. Tapestry has a 52-week low of $25.99 and a 52-week high of $48.80. The stock’s 50-day simple moving average is $44.29 and its 200 day simple moving average is $38.40.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Research analysts forecast that Tapestry will post 4.23 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.57%. Tapestry’s payout ratio is 35.35%.

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.