Tapestry, Inc. (NYSE:TPR) Receives $58.94 Consensus Target Price from Analysts

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have received an average recommendation of "Moderate Buy" from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $58.94.

Several analysts have recently commented on the company. Wells Fargo & Company raised 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. TD Cowen cut Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Barclays reissued an "equal weight" rating and issued a $57.00 price target on shares of Tapestry in a research report on Wednesday, November 20th. Finally, Telsey Advisory Group upped their price objective on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, November 15th.

Tapestry Stock Up 2.8 %

NYSE:TPR traded up $1.71 during trading hours on Friday, reaching $63.20. The company had a trading volume of 3,724,470 shares, compared to its average volume of 3,502,529. Tapestry has a twelve month low of $35.06 and a twelve month high of $65.30. 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 firm has a market cap of $14.73 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 1.60. The business's 50-day simple moving average is $53.20 and its two-hundred day simple moving average is $45.75.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, December 6th. Tapestry's payout ratio is 40.46%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction 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 of the company's stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock worth $357,732,000 after buying an additional 272,007 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock worth $285,580,000 after acquiring an additional 58,135 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tapestry by 1.5% in 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 period. Dimensional Fund Advisors LP grew its position in shares of Tapestry by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock valued at $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Tapestry by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock valued at $116,928,000 after purchasing an additional 46,760 shares during the period. 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.