Tapestry, Inc. (NYSE:TPR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $48.53.

Several research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research report on Thursday, May 9th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Friday. Bernstein Bank raised their price target on shares of Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. Argus reiterated a “buy” rating and set a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Finally, Robert W. Baird dropped their target price on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of the transaction, the vice president now owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Tapestry

A number of institutional investors and hedge funds have recently made changes to their positions in TPR. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $117,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Tapestry by 9.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock worth $10,527,000 after purchasing an additional 23,532 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Tapestry in the fourth quarter worth approximately $1,107,000. Goldman Sachs Group Inc. boosted its holdings in Tapestry by 41.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock worth $46,857,000 after purchasing an additional 371,724 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Tapestry by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock worth $121,671,000 after purchasing an additional 140,347 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 1.1 %

Shares of NYSE:TPR opened at $41.23 on Wednesday. Tapestry has a 52-week low of $25.99 and a 52-week high of $48.80. The firm has a fifty day moving average of $42.18 and a 200 day moving average of $42.36. The firm has a market capitalization of $9.47 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.84 and a beta of 1.59. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. 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 previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Tapestry will post 4.24 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, June 7th. Tapestry’s payout ratio is currently 37.04%.

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.