Analysts Set Tapestry, Inc. (NYSE:TPR) Target Price at $65.56

Tapestry, Inc. (NYSE:TPR) has been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $67.28.

A number of brokerages recently commented on TPR. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America lifted their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Citigroup lifted their price objective on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th.

Tapestry Stock Down 0.8 %

Shares of NYSE:TPR opened at $72.92 on Friday. The stock’s 50-day moving average is $67.05 and its 200 day moving average is $52.66. The company has a market cap of $16.99 billion, a PE ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 1.58. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry has a 1 year low of $35.23 and a 1 year high of $76.49.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Tapestry’s payout ratio is presently 40.46%.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on 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 sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Tapestry

Institutional investors have recently modified their holdings of the business. Cutter & CO Brokerage Inc. bought a new position in Tapestry during the 4th quarter valued at about $268,000. Denali Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $400,000. Los Angeles Capital Management LLC lifted its position in Tapestry by 660.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 238,725 shares of the luxury accessories retailer’s stock valued at $15,596,000 after purchasing an additional 207,322 shares during the period. Todd Asset Management LLC boosted its holdings in Tapestry by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 707,043 shares of the luxury accessories retailer’s stock worth $46,191,000 after purchasing an additional 11,287 shares during the last quarter. Finally, Quartz Partners LLC grew its position in Tapestry by 7.4% in the 4th quarter. Quartz Partners LLC now owns 11,895 shares of the luxury accessories retailer’s stock worth $777,000 after purchasing an additional 818 shares during the period. 90.77% of the stock is 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.