Tapestry (NYSE:TPR) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Tapestry (NYSE:TPR) in a research note released on Monday, Marketbeat Ratings reports. Telsey Advisory Group currently has a $125.00 price target on the luxury accessories retailer’s stock, up from their prior price target of $92.00.

A number of other brokerages have also recently issued reports on TPR. Wells Fargo & Company reissued an “overweight” rating and set a $100.00 price target (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and lifted their price target for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. UBS Group reissued a “neutral” rating and set a $112.00 price target (up from $73.00) on shares of Tapestry in a research report on Monday, August 4th. Finally, TD Cowen raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Thursday, June 12th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Tapestry Trading Down 1.0%

Shares of NYSE TPR opened at $108.01 on Monday. Tapestry has a 1 year low of $37.13 and a 1 year high of $113.08. The stock has a market cap of $22.43 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.20 and a beta of 1.51. The firm has a 50-day moving average of $94.75 and a 200 day moving average of $81.91. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22.

Institutional Trading of Tapestry

A number of large investors have recently made changes to their positions in TPR. Southpoint Capital Advisors LP bought a new stake in shares of Tapestry in the fourth quarter worth approximately $130,660,000. Price T Rowe Associates Inc. MD grew its stake in shares of Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer’s stock worth $143,198,000 after acquiring an additional 1,875,753 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tapestry in the fourth quarter worth approximately $101,433,000. Candlestick Capital Management LP bought a new stake in shares of Tapestry in the fourth quarter worth approximately $66,902,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Tapestry in the fourth quarter worth approximately $65,751,000. 90.77% of the stock is currently owned by institutional investors.

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.