Tapestry (NYSE:TPR) Price Target Raised to $100.00

Tapestry (NYSE:TPR - Free Report) had its target price raised by Robert W. Baird from $93.00 to $100.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the luxury accessories retailer's stock.

A number of other research firms also recently commented on TPR. Daiwa America upgraded Tapestry to a "hold" rating in a research report on Monday, November 18th. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Bank of America upped their price objective on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 25th. UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Price Performance

TPR traded down $1.92 during trading on Thursday, reaching $84.60. 3,583,160 shares of the stock were exchanged, compared to its average volume of 5,112,137. The business's 50 day moving average price is $72.63 and its two-hundred day moving average price is $56.48. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry has a 1 year low of $35.23 and a 1 year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, equities research analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.65%. Tapestry's dividend payout ratio is presently 40.58%.

Institutional Investors Weigh In On Tapestry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP acquired a new stake in Tapestry during the fourth quarter worth about $333,000. Michels Family Financial LLC acquired a new stake in Tapestry during the fourth quarter worth about $948,000. Vise Technologies Inc. acquired a new stake in shares of Tapestry in the fourth quarter valued at about $215,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $212,000. Finally, CSS LLC IL grew its stake in shares of Tapestry by 47.8% in the fourth quarter. CSS LLC IL now owns 9,311 shares of the luxury accessories retailer's stock valued at $608,000 after buying an additional 3,011 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.