Tapestry, Inc. (NYSE:TPR) Receives $78.53 Consensus Target Price from Analysts

Tapestry, Inc. (NYSE:TPR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $78.53.

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Barclays upped their price objective on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price target on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI lifted their price objective on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Raymond James restated an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th.

Insider Transactions at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company's stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

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Institutional Investors Weigh In On Tapestry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Greenline Partners LLC acquired a new position in shares of Tapestry in the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC increased its stake in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Venturi Wealth Management LLC raised its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry during the 4th quarter worth $48,000. Finally, Brooklyn Investment Group bought a new position in Tapestry during the third quarter valued at about $47,000. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Down 1.5 %

NYSE TPR traded down $1.13 during mid-day trading on Monday, reaching $74.59. 1,210,292 shares of the stock were exchanged, compared to its average volume of 3,830,592. The stock has a market capitalization of $15.44 billion, a PE ratio of 21.63, a PEG ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry has a 1-year low of $35.23 and a 1-year high of $90.85. The business's fifty day simple moving average is $77.35 and its 200 day simple moving average is $62.20.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 period in the prior year, the company earned $1.63 earnings per share. On average, research analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. Tapestry's dividend payout ratio (DPR) is 40.58%.

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.