Tapestry (NYSE:TPR) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Tapestry (NYSE:TPR) in a research report sent to investors on Friday,Benzinga reports. Telsey Advisory Group currently has a $92.00 price target on the luxury accessories retailer’s stock.

TPR has been the subject of several other research reports. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group dropped their target price on shares of Tapestry from $98.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Barclays reduced their price target on Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, Raymond James reiterated an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.22.

Tapestry Stock Up 0.6 %

Shares of NYSE:TPR opened at $78.00 on Friday. The stock has a market capitalization of $16.15 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The stock’s 50-day moving average price is $69.75 and its 200-day moving average price is $67.78. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.81 EPS. Tapestry’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.79%. Tapestry’s payout ratio is 40.58%.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 in the last 90 days. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Harbour Investments Inc. grew its position in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the period. Greenline Partners LLC bought a new stake in shares of Tapestry in the fourth quarter worth $29,000. Coppell Advisory Solutions LLC increased its position in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Tapestry in the first quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC purchased a new position in Tapestry in the first quarter worth about $35,000. 90.77% of the stock is owned by institutional investors.

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.