Tapestry (NYSE:TPR) Earns Equal Weight Rating from Barclays

Barclays reiterated their equal weight rating on shares of Tapestry (NYSE:TPR - Free Report) in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has a $57.00 price objective on the luxury accessories retailer's stock.

TPR has been the topic of several other research reports. Telsey Advisory Group increased their price objective on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. UBS Group lowered their price target on Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Guggenheim upped their target price on Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Evercore ISI boosted their price objective on Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $57.78.

Tapestry Stock Down 0.6 %

Shares of TPR traded down $0.32 during trading on Wednesday, reaching $55.30. The company's stock had a trading volume of 2,862,385 shares, compared to its average volume of 3,334,060. Tapestry has a twelve month low of $30.20 and a twelve month high of $58.49. 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 company has a market cap of $12.89 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.98 and a beta of 1.53. The company has a fifty day moving average of $47.41 and a two-hundred day moving average of $43.32.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.53%. Tapestry's dividend payout ratio is currently 40.46%.

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 shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.18% of the stock is owned by insiders.

Institutional Trading of Tapestry

Hedge funds have recently added to or reduced their stakes in the business. TCW Group Inc. raised its holdings in Tapestry by 17.5% in the 3rd quarter. TCW Group Inc. now owns 554,104 shares of the luxury accessories retailer's stock valued at $26,032,000 after acquiring an additional 82,649 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Tapestry during the third quarter valued at $1,971,000. Fortem Financial Group LLC increased its holdings in Tapestry by 11.8% during the 3rd quarter. Fortem Financial Group LLC now owns 12,124 shares of the luxury accessories retailer's stock valued at $570,000 after purchasing an additional 1,277 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Tapestry by 12.8% in the third quarter. Coldstream Capital Management Inc. now owns 8,573 shares of the luxury accessories retailer's stock valued at $406,000 after buying an additional 970 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock worth $262,156,000 after acquiring an additional 80,681 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

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.