Tapestry, Inc. (NYSE:TPR) Receives $48.31 Consensus PT from Analysts

Tapestry, Inc. (NYSE:TPRGet Free Report) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $48.31.

TPR has been the subject of a number of recent analyst reports. OTR Global reissued a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Bernstein Bank upped their target price on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. Robert W. Baird cut their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd.

Read Our Latest Stock Analysis on TPR

Tapestry Stock Up 2.0 %

NYSE:TPR opened at $42.35 on Tuesday. The firm has a market capitalization of $9.73 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.61. The stock has a 50 day moving average of $42.05 and a 200-day moving average of $40.12. Tapestry has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a current ratio of 6.59, a quick ratio of 5.98 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPRGet Free Report) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Analysts predict that Tapestry will post 4.22 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.31%. Tapestry’s payout ratio is currently 37.04%.

Insider Activity

In other news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the transaction, the vice president now directly owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in Tapestry by 0.9% during the first quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock worth $1,275,000 after buying an additional 237 shares during the last quarter. Empirical Finance LLC grew its position in shares of Tapestry by 3.3% in the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after purchasing an additional 276 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Tapestry by 5.7% in the third 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 during the last quarter. Treasurer of the State of North Carolina grew its position in shares of 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 valued at $3,158,000 after purchasing an additional 353 shares during the last quarter. Finally, Sowell Financial Services LLC grew its position in shares of Tapestry by 2.1% in the third quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock valued at $527,000 after purchasing an additional 381 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

About Tapestry

(Get Free Report

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.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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