Analysts Set Tapestry, Inc. (NYSE:TPR) Price Target at $61.24

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $63.00.

Several equities research analysts recently weighed in on TPR shares. Raymond James reissued an "outperform" rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Barclays upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $57.00 to $87.00 in a research note on Wednesday. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday, October 25th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Telsey Advisory Group lifted their target price on Tapestry from $58.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, November 15th.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tapestry

Large investors have recently modified their holdings of the stock. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Tapestry in the third quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Tapestry during the second quarter valued at $68,000. Abich Financial Wealth Management LLC bought a new stake in shares of Tapestry during the 2nd quarter valued at $69,000. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after acquiring an additional 605 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Tapestry stock traded up $1.26 during trading on Wednesday, hitting $68.62. The stock had a trading volume of 4,359,881 shares, compared to its average volume of 3,869,114. 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 stock's 50 day moving average is $59.79 and its two-hundred day moving average is $48.48. Tapestry has a 1 year low of $35.23 and a 1 year high of $69.09. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry's dividend payout ratio is 40.46%.

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.