Barclays Boosts Tapestry (NYSE:TPR) Price Target to $98.00

Tapestry (NYSE:TPR - Get Free Report) had its price objective hoisted by equities research analysts at Barclays from $83.00 to $98.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the luxury accessories retailer's stock. Barclays's price target indicates a potential upside of 18.45% from the stock's current price.

A number of other analysts also recently commented on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Citigroup increased 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. JPMorgan Chase & Co. increased their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group increased their target price on Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.89.

Tapestry Stock Down 0.6%

NYSE:TPR traded down $0.53 during midday trading on Monday, hitting $82.74. 1,245,001 shares of the company were exchanged, compared to its average volume of 4,215,204. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a market capitalization of $17.13 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a fifty day simple moving average of $70.06 and a 200 day simple moving average of $68.54.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.81 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on 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 completion of the sale, the general counsel now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 40,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 116,062 shares of the company's stock, valued at $9,447,446.80. This trade represents a 25.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,936 shares of company stock worth $9,101,139. Insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TPR. Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after buying an additional 197 shares during the last quarter. Greenline Partners LLC acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the 1st quarter valued at $29,000. Coppell Advisory Solutions LLC increased its stake 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 valued at $34,000 after acquiring an additional 150 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Tapestry in the 1st quarter valued at $35,000. 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.