Telsey Advisory Group Raises Tapestry (NYSE:TPR) Price Target to $83.00

Tapestry (NYSE:TPRGet Free Report) had its target price lifted by Telsey Advisory Group from $74.00 to $83.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the luxury accessories retailer’s stock. Telsey Advisory Group’s price objective points to a potential upside of 13.82% from the company’s current price.

TPR has been the topic of several other reports. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. 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 report on Friday, November 15th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lifted their target price on Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.28.

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Tapestry Trading Down 0.8 %

Shares of NYSE TPR opened at $72.92 on Monday. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock’s 50 day moving average price is $67.05 and its two-hundred day moving average price is $52.66. Tapestry has a 52-week low of $35.23 and a 52-week high of $76.49. The stock has a market capitalization of $16.99 billion, a P/E ratio of 21.08, a PEG ratio of 2.07 and a beta of 1.58.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred 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 directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently modified their holdings of TPR. Charles Schwab Investment Management Inc. grew its holdings in Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after acquiring an additional 272,007 shares during the period. Pacer Advisors Inc. grew its stake in shares of Tapestry by 1.0% in 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 holdings in shares of Tapestry by 1.5% in 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 in the last quarter. Allianz Asset Management GmbH lifted its stake in Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock valued at $138,596,000 after purchasing an additional 298,409 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after buying an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

About Tapestry

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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.

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