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

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seventeen analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $47.81.

A number of research analysts have commented on the stock. Jefferies Financial Group downgraded shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. The Goldman Sachs Group lifted their price target on shares of Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Telsey Advisory Group reiterated an "outperform" rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. StockNews.com raised Tapestry from a "hold" rating to a "buy" rating in a research report on Thursday, April 18th. Finally, Evercore ISI raised Tapestry from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $30.00 to $50.00 in a report on Monday, February 5th.

Tapestry Trading Up 1.2 %

Shares of TPR traded up $0.45 during mid-day trading on Friday, reaching $39.24. 3,241,952 shares of the company's stock traded hands, compared to its average volume of 3,816,192. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The stock has a market cap of $9.00 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.81 and a beta of 1.61. The stock's 50-day moving average is $44.47 and its two-hundred day moving average is $38.26.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. Research analysts forecast that Tapestry will post 4.23 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.57%. Tapestry's payout ratio is currently 35.35%.

Institutional Trading of Tapestry

A number of hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new stake in Tapestry in the fourth quarter valued at $102,531,000. Capital Research Global Investors boosted its holdings in shares of 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 purchasing an additional 2,504,135 shares during the last quarter. Norges Bank acquired a new position in Tapestry in the fourth quarter valued at $79,352,000. Fiera Capital Corp purchased a new position in Tapestry during the fourth quarter worth about $52,121,000. Finally, Invesco Ltd. boosted its stake in Tapestry by 37.8% in the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer's stock worth $126,354,000 after buying an additional 1,205,207 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

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.