Tapestry (NYSE:TPR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a report issued on Friday.

Several other research firms also recently commented on TPR. Citigroup upped their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird lifted their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Finally, UBS Group raised their price objective on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Tapestry Trading Down 2.3 %

Shares of TPR stock opened at $80.28 on Friday. Tapestry has a 12-month low of $35.23 and a 12-month high of $87.87. The company has a market capitalization of $18.71 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. The firm has a 50 day moving average price of $68.08 and a two-hundred day moving average price of $53.45. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the company posted $1.63 earnings per share. As a group, analysts predict that Tapestry will post 4.7 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TPR. HighTower Advisors LLC grew its position in shares of Tapestry by 0.9% in the 4th quarter. HighTower Advisors LLC now owns 51,278 shares of the luxury accessories retailer’s stock valued at $3,350,000 after buying an additional 481 shares during the last quarter. Pzena Investment Management LLC bought a new stake in Tapestry in the fourth quarter valued at approximately $18,737,000. Daiwa Securities Group Inc. increased its position in Tapestry by 17.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 12,515 shares of the luxury accessories retailer’s stock valued at $818,000 after purchasing an additional 1,896 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tapestry by 18.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,608 shares of the luxury accessories retailer’s stock worth $3,894,000 after purchasing an additional 9,433 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its position in shares of Tapestry by 10.4% in the 4th quarter. Sowell Financial Services LLC now owns 22,382 shares of the luxury accessories retailer’s stock worth $1,462,000 after purchasing an additional 2,100 shares during the period. 90.77% of the stock is owned by 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.