Shares of Tapestry, Inc. (NYSE:TPR – Get Free Report) hit a new 52-week high during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $50.00 to $65.00. Wells Fargo & Company currently has an overweight rating on the stock. Tapestry traded as high as $50.40 and last traded at $50.40, with a volume of 199073 shares. The stock had previously closed at $44.47.
TPR has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Citigroup dropped their price target on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research report on Thursday, August 15th. Finally, Evercore ISI reduced their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.
Read Our Latest Stock Report on TPR
Institutional Inflows and Outflows
Tapestry Stock Up 14.8 %
The business has a fifty day moving average price of $43.34 and a two-hundred day moving average price of $41.84. The firm has a market cap of $11.73 billion, a PE ratio of 13.20, a P/E/G ratio of 1.67 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66.
Tapestry (NYSE:TPR – Get Free Report) last issued its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, analysts anticipate that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.
Tapestry Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is presently 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.
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