Tapestry, Inc. (NYSE:TPR - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $57.82.
A number of equities research analysts have issued reports on the stock. Guggenheim increased their price objective on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday. Bank of America increased their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. UBS Group lowered their price objective on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Robert W. Baird raised their target price on Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Friday. Finally, The Goldman Sachs Group boosted their price target on Tapestry from $58.00 to $66.00 and gave the stock a "buy" rating in a report on Friday.
Read Our Latest Analysis on TPR
Insiders Place Their Bets
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 completion of the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.18% of the company's stock.
Institutional Investors Weigh In On Tapestry
Several hedge funds and other institutional investors have recently made changes to their positions in TPR. Pacer Advisors Inc. raised its stake in shares of 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 during the last quarter. Erste Asset Management GmbH bought a new position in Tapestry during the 3rd quarter valued at $64,016,000. Clearbridge Investments LLC bought a new stake in shares of Tapestry in the 1st quarter worth $54,055,000. AQR Capital Management LLC raised its holdings in shares of 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 valued at $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in Tapestry by 265.1% during the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer's stock worth $44,700,000 after purchasing an additional 758,539 shares during the last quarter. 90.77% of the stock is owned by institutional investors.
Tapestry Price Performance
Shares of NYSE:TPR traded down $0.93 during trading on Tuesday, reaching $55.62. 3,109,209 shares of the company traded hands, compared to its average volume of 3,336,007. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry has a 52 week low of $30.19 and a 52 week high of $58.49. The firm has a market capitalization of $12.96 billion, a PE ratio of 16.08, a PEG ratio of 1.98 and a beta of 1.53. The company's 50 day moving average is $47.14 and its two-hundred day moving average is $43.23.
Tapestry Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, December 6th. Tapestry's dividend payout ratio is presently 40.46%.
About Tapestry
(
Get Free ReportTapestry, 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.
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