Tapestry, Inc. (NYSE:TPR) Receives Average Rating of "Moderate Buy" from Brokerages

Tapestry, Inc. (NYSE:TPR - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $83.89.

Several equities research analysts recently issued reports on TPR shares. Citigroup lifted their price objective on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Telsey Advisory Group reissued an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a research note on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. Barclays lifted their price objective on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. raised their price target on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the transaction, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. grew its holdings in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after acquiring an additional 197 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Tapestry in the 1st quarter worth approximately $25,000. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tapestry in the 1st quarter worth approximately $29,000. Finally, Coppell Advisory Solutions LLC boosted its position in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Tapestry stock opened at $79.00 on Friday. Tapestry has a one year low of $35.23 and a one year high of $90.85. The business has a fifty day moving average price of $72.64 and a 200-day moving average price of $71.86. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $16.41 billion, a P/E ratio of 22.90, a PEG ratio of 2.01 and a beta of 1.46.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.81 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Tapestry will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. Tapestry's dividend payout ratio is currently 36.84%.

Tapestry Company Profile

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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