Tapestry, Inc. (NYSE:TPR) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $47.81.

Several equities research analysts have recently weighed in on TPR shares. TheStreet raised Tapestry from a "c+" rating to a "b-" rating in a report on Tuesday, December 26th. Raymond James increased their price target on Tapestry from $40.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, January 30th. Morgan Stanley reaffirmed an "equal weight" rating and set a $38.00 price target on shares of Tapestry in a report on Tuesday, December 12th. Evercore ISI raised Tapestry from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, Wells Fargo & Company increased their price target on Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 2nd.

Institutional Trading of Tapestry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Tapestry by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer's stock worth $1,213,109,000 after buying an additional 751,210 shares during the last quarter. BlackRock Inc. increased its holdings in Tapestry by 3.2% during the 1st quarter. BlackRock Inc. now owns 16,155,279 shares of the luxury accessories retailer's stock worth $696,454,000 after purchasing an additional 505,189 shares during the last quarter. FMR LLC increased its holdings in Tapestry by 2.0% during the 3rd quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer's stock worth $403,032,000 after purchasing an additional 280,959 shares during the last quarter. State Street Corp increased its holdings in Tapestry by 1.7% during the 2nd quarter. State Street Corp now owns 9,588,682 shares of the luxury accessories retailer's stock worth $410,396,000 after purchasing an additional 160,015 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Tapestry by 4.7% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer's stock valued at $196,183,000 after acquiring an additional 305,658 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 0.5 %

Tapestry stock traded up $0.21 during mid-day trading on Monday, hitting $43.14. The company had a trading volume of 4,297,928 shares, compared to its average volume of 3,730,546. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.88 and a beta of 1.57. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average of $45.38 and a 200 day moving average of $36.83.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts expect that Tapestry will post 4.25 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry's dividend payout ratio is currently 35.35%.

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.