Brokerages Set Tapestry, Inc. (NYSE:TPR) Price Target at $78.53

Shares of Tapestry, Inc. (NYSE:TPR) have been given an average recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $78.53.

TPR has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Raymond James reissued an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. UBS Group lifted their target price on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group increased their price target on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th.

Tapestry Stock Performance

Shares of NYSE TPR opened at $81.12 on Thursday. The stock has a market capitalization of $16.79 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. Tapestry has a 52 week low of $35.23 and a 52 week high of $90.85. The stock has a 50 day moving average price of $75.49 and a 200 day moving average price of $59.01. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the firm posted $1.63 earnings per share. Analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.73%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the transaction, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tapestry

Hedge funds and other institutional investors have recently modified their holdings of the business. Coppell Advisory Solutions LLC lifted its position in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after acquiring an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock valued at $833,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 90.77% 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.