Tapestry (NYSE:TPR) Upgraded at StockNews.com

StockNews.com upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a report released on Thursday.

Other research analysts also recently issued reports about the stock. OTR Global reissued a mixed rating on shares of Tapestry in a research report on Wednesday, April 17th. Telsey Advisory Group restated an outperform rating and issued a $54.00 target price on shares of Tapestry in a research note on Wednesday, March 27th. Raymond James raised their target price on shares of 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 raised their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company raised their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $47.81.

Tapestry Trading Up 0.3 %

Shares of Tapestry stock opened at $40.62 on Thursday. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. 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 company has a market capitalization of $9.32 billion, a P/E ratio of 10.26, a PEG ratio of 0.83 and a beta of 1.57. The company’s fifty day moving average is $45.49 and its two-hundred day moving average is $37.65.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm posted $1.36 EPS. Tapestry’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that Tapestry will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is 35.35%.

Institutional Trading of Tapestry

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. acquired a new position in Tapestry during the fourth quarter worth about $102,531,000. Capital Research Global Investors raised its position in Tapestry by 77.2% during the fourth quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock worth $211,611,000 after acquiring an additional 2,504,135 shares during the last quarter. Norges Bank acquired a new position in Tapestry during the fourth quarter worth about $79,352,000. Fiera Capital Corp acquired a new position in Tapestry during the fourth quarter worth about $52,121,000. Finally, Invesco Ltd. raised its position in Tapestry by 37.8% during the third quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after acquiring an additional 1,205,207 shares during the last quarter. Institutional investors and hedge funds 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.