Tapestry, Inc. (NYSE:TPR) Receives Average Rating of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $57.82.

TPR has been the topic of several research reports. Evercore ISI upped their target price on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday. Robert W. Baird increased their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup increased their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after purchasing an additional 272,007 shares during the last quarter. Capital Research Global Investors raised its position in Tapestry by 8.5% during the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock worth $296,212,000 after purchasing an additional 489,933 shares during the last quarter. Pacer Advisors Inc. raised its position in Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after purchasing an additional 58,135 shares during the last quarter. Geode Capital Management LLC raised its position in Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after purchasing an additional 165,406 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Tapestry stock opened at $56.55 on Tuesday. Tapestry has a 12 month low of $30.19 and a 12 month high of $58.49. The stock’s 50 day moving average is $46.85 and its 200-day moving average is $43.12. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is 40.46%.

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.