OTR Global Reaffirms "Mixed" Rating for Tapestry (NYSE:TPR)

OTR Global restated their mixed rating on shares of Tapestry (NYSE:TPR - Free Report) in a report issued on Wednesday morning, Benzinga reports.

A number of other brokerages also recently commented on TPR. Wells Fargo & Company upped their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. TheStreet upgraded shares of Tapestry from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Telsey Advisory Group restated an outperform rating and issued a $54.00 target price on shares of Tapestry in a research note on Wednesday, March 27th. Raymond James upped their target price on shares of Tapestry from $40.00 to $44.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded shares of Tapestry from a buy rating to a hold rating in a research note on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Tapestry has an average rating of Moderate Buy and an average target price of $47.81.

Tapestry Price Performance

TPR stock traded down $0.37 during mid-day trading on Wednesday, hitting $40.49. The company had a trading volume of 4,343,292 shares, compared to its average volume of 3,760,673. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.84 and a beta of 1.57. Tapestry has a 12-month low of $25.99 and a 12-month 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 company has a 50-day moving average price of $45.56 and a 200 day moving average price of $37.38.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business'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 EPS. On average, research analysts anticipate that Tapestry will post 4.25 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared 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 of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.46%. Tapestry's dividend payout ratio is currently 35.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TPR. DGS Capital Management LLC acquired a new stake in shares of Tapestry in the first quarter worth $222,000. GoalVest Advisory LLC increased its stake in shares of Tapestry by 1,042.6% in the first quarter. GoalVest Advisory LLC now owns 2,011 shares of the luxury accessories retailer's stock worth $95,000 after acquiring an additional 1,835 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Tapestry in the first quarter worth $69,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Tapestry in the first quarter worth $253,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Tapestry in the first quarter worth $863,000. Hedge funds and other institutional investors 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.