Analysts Set Tapestry, Inc. (NYSE:TPR) PT at $79.00

Tapestry, Inc. (NYSE:TPR) has been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $79.00.

TPR has been the subject of a number of research reports. Raymond James reiterated an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Citigroup reduced their target price on shares of Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird upped their price target on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, February 18th.

Tapestry Price Performance

TPR stock opened at $63.53 on Friday. The firm has a 50 day moving average of $74.24 and a 200-day moving average of $65.41. 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 firm has a market capitalization of $13.15 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) 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 quarter last year, the company posted $1.63 earnings per share. As a group, sell-side analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.20%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value 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. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 in the last ninety days. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Inscription Capital LLC purchased a new position in Tapestry during the first quarter valued at $341,000. QRG Capital Management Inc. lifted its position in shares of Tapestry by 39.7% during the 1st quarter. QRG Capital Management Inc. now owns 17,813 shares of the luxury accessories retailer’s stock valued at $1,254,000 after buying an additional 5,066 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of Tapestry by 5.0% during the 1st quarter. Sowell Financial Services LLC now owns 23,505 shares of the luxury accessories retailer’s stock valued at $1,655,000 after acquiring an additional 1,123 shares during the period. Janney Montgomery Scott LLC increased its holdings in Tapestry by 53.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,834 shares of the luxury accessories retailer’s stock worth $552,000 after acquiring an additional 2,743 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in Tapestry during the first quarter valued at approximately $246,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.