Telsey Advisory Group Reiterates "Outperform" Rating for Tapestry (NYSE:TPR)

Tapestry (NYSE:TPR - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They currently have a $92.00 price objective on the luxury accessories retailer's stock. Telsey Advisory Group's price objective indicates a potential upside of 25.42% from the stock's previous close.

Several other brokerages also recently issued reports on TPR. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Guggenheim lifted their price target on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. UBS Group boosted their price target on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Robert W. Baird raised their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $78.47.

Tapestry Stock Up 0.1 %

NYSE:TPR traded up $0.07 during mid-day trading on Thursday, reaching $73.36. The stock had a trading volume of 2,262,120 shares, compared to its average volume of 4,170,099. 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 stock has a market cap of $15.19 billion, a P/E ratio of 21.25, a PEG ratio of 2.01 and a beta of 1.41. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The business's 50 day moving average is $70.37 and its 200 day moving average is $67.22.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the business earned $1.63 EPS. As a group, sell-side analysts predict that Tapestry will post 4.91 earnings per share for the current year.

Insider Transactions at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 21,107 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently modified their holdings of TPR. Greenline Partners LLC bought a new position in shares of Tapestry in the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC increased its position in Tapestry by 40.7% during 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. Opal Wealth Advisors LLC bought a new position in Tapestry in the 1st quarter valued at approximately $35,000. MorganRosel Wealth Management LLC acquired a new stake in Tapestry in the first quarter valued at approximately $35,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 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.