Tapestry, Inc. (NYSE:TPR) Given Consensus 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 nineteen analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $83.89.

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. The Goldman Sachs Group increased their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Telsey Advisory Group reissued an "outperform" rating and issued a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Raymond James reiterated an "outperform" rating and set a $85.00 price target (up previously from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Finally, Evercore ISI lifted their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th.

Insider Activity

In other news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now owns 116,062 shares in the company, valued at $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company's stock, valued at $3,397,592. This trade represents a 23.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,936 shares of company stock worth $9,101,139. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

A number of hedge funds have recently modified their holdings of TPR. Franklin Resources Inc. increased its holdings in Tapestry by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer's stock worth $7,442,000 after acquiring an additional 15,585 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Tapestry by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer's stock valued at $4,694,000 after purchasing an additional 898 shares during the last quarter. Czech National Bank boosted its holdings in Tapestry by 7.7% in the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer's stock worth $3,301,000 after acquiring an additional 3,629 shares in the last quarter. Reinhart Partners LLC. purchased a new position in Tapestry during the fourth quarter valued at approximately $5,969,000. Finally, Wedmont Private Capital purchased a new stake in shares of Tapestry in the fourth quarter valued at approximately $253,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR stock traded down $0.47 during midday trading on Tuesday, hitting $82.77. 2,552,671 shares of the company traded hands, compared to its average volume of 4,225,678. Tapestry has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business has a 50 day simple moving average of $70.53 and a 200-day simple moving average of $69.30. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.53 billion. During the same period last year, the business earned $0.81 earnings per share. Tapestry's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is 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.