Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $47.07.

Several analysts have recently weighed in on TPR shares. Wells Fargo & Company lowered their price objective on shares of Tapestry from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Telsey Advisory Group reiterated an "outperform" rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. StockNews.com raised Tapestry from a "hold" rating to a "buy" rating in a research note on Wednesday, September 25th. Citigroup decreased their price target on shares of Tapestry from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Finally, UBS Group reduced their target price on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, August 16th.

Tapestry Price Performance

NYSE:TPR traded down $0.96 during mid-day trading on Monday, hitting $46.98. 2,919,704 shares of the stock traded hands, compared to its average volume of 3,263,595. The business's 50-day moving average price is $40.94 and its 200 day moving average price is $41.92. The company has a market cap of $10.79 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. Tapestry has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, September 6th. Tapestry's payout ratio is 37.04%.

Institutional Trading of Tapestry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPR. Balyasny Asset Management L.P. purchased a new stake in Tapestry in the fourth quarter worth $102,531,000. Capital Research Global Investors raised its holdings in Tapestry by 77.2% in the fourth quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer's stock worth $211,611,000 after purchasing an additional 2,504,135 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Tapestry by 53.1% in the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer's stock worth $257,623,000 after purchasing an additional 2,087,586 shares in the last quarter. Clearbridge Investments LLC bought a new position in Tapestry in the first quarter worth $54,055,000. Finally, AQR Capital Management LLC raised its holdings in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer's stock worth $61,578,000 after purchasing an additional 1,051,743 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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.