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

Shares of Tapestry, Inc. (NYSE:TPR) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $64.76.

Several equities analysts recently issued reports on TPR shares. Guggenheim boosted their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Telsey Advisory Group boosted their price target on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Jefferies Financial Group upgraded Tapestry from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $80.00 in a research report on Thursday, December 19th. Bank of America boosted their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 18th.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several institutional investors have recently modified their holdings of the company. Redwood Investment Management LLC boosted its stake in shares of Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after acquiring an additional 204 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after buying an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after buying an additional 218 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Tapestry by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after buying an additional 251 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 1.3 %

TPR opened at $67.65 on Wednesday. The business’s 50-day simple moving average is $61.39 and its 200-day simple moving average is $49.21. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry has a one year low of $35.23 and a one year high of $69.09. The stock has a market capitalization of $15.76 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

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.