Analysts Set Tapestry, Inc. (NYSE:TPR) Price Target at $46.13

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $46.13.

A number of research analysts have recently commented on TPR shares. Bernstein Bank upped their price target on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Argus reaffirmed a "buy" rating and set a $52.00 price target on shares of Tapestry in a research report on Tuesday, June 18th. Evercore ISI dropped their price target on Tapestry from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Robert W. Baird dropped their price target on Tapestry from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 10th. Finally, Citigroup dropped their price target on Tapestry from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th.

Tapestry Stock Performance

NYSE:TPR traded up $0.17 during trading on Thursday, reaching $41.36. The company's stock had a trading volume of 3,339,463 shares, compared to its average volume of 3,311,174. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The firm has a 50 day moving average of $40.46 and a 200-day moving average of $42.43. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Research analysts expect that Tapestry will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 3.38%. Tapestry's payout ratio is currently 37.04%.

Institutional Trading of Tapestry

Several institutional investors and hedge funds have recently modified their holdings of TPR. Fidelis Capital Partners LLC bought a new position in shares of Tapestry during the 1st quarter valued at about $35,000. BNP Paribas purchased a new position in shares of Tapestry in the 1st quarter valued at approximately $38,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after buying an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer's stock valued at $46,000 after buying an additional 1,209 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after buying an additional 556 shares during the last quarter. Hedge funds and other 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.