Brokerages Set Tapestry, Inc. (NYSE:TPR) PT at $58.94

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $59.47.

A number of brokerages recently weighed in on TPR. Robert W. Baird raised their price objective on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Bank of America lifted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Guggenheim raised their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Evercore ISI upped their price target on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Tapestry Price Performance

Shares of TPR opened at $64.20 on Friday. The stock has a market capitalization of $14.96 billion, a PE ratio of 18.55, a PEG ratio of 1.80 and a beta of 1.60. The company has a 50 day moving average price of $53.57 and a 200-day moving average price of $45.94. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $65.30.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. Tapestry’s dividend payout ratio is presently 40.46%.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new position in shares of Tapestry during the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in Tapestry in the third quarter valued at $47,000. Blue Trust Inc. raised its position in shares of Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the period. MUFG Securities EMEA plc grew its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in shares of Tapestry during the 2nd quarter valued at about $53,000. 90.77% of the stock is currently owned by hedge funds and other 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.