Tapestry (NYSE:TPR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Tapestry (NYSE:TPR - Free Report) had its price target lifted by JPMorgan Chase & Co. from $88.00 to $104.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the luxury accessories retailer's stock.

Other equities analysts have also recently issued research reports about the stock. Guggenheim boosted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Barclays boosted their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Citigroup boosted their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Evercore ISI boosted their price target on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, UBS Group boosted their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.78.

Tapestry Trading Up 1.2 %

Shares of TPR stock traded up $1.04 during mid-day trading on Wednesday, reaching $87.68. The stock had a trading volume of 4,819,117 shares, compared to its average volume of 4,970,739. The stock's 50-day moving average price is $70.11 and its two-hundred day moving average price is $54.89. Tapestry has a 52-week low of $35.23 and a 52-week high of $88.07. The firm has a market capitalization of $20.43 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the previous year, the business earned $1.63 EPS. Equities analysts expect that Tapestry will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.60%. Tapestry's dividend payout ratio is presently 40.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TPR. Exchange Traded Concepts LLC raised its holdings in shares of Tapestry by 102.7% during the third quarter. Exchange Traded Concepts LLC now owns 17,680 shares of the luxury accessories retailer's stock valued at $831,000 after purchasing an additional 8,958 shares during the last quarter. Swedbank AB raised its holdings in shares of Tapestry by 9.2% during the third quarter. Swedbank AB now owns 1,092,260 shares of the luxury accessories retailer's stock valued at $51,314,000 after purchasing an additional 92,458 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Tapestry by 4.4% during the third quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer's stock valued at $876,000 after purchasing an additional 789 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Tapestry during the third quarter valued at approximately $220,000. Finally, Secure Asset Management LLC increased its holdings in Tapestry by 20.5% during the third quarter. Secure Asset Management LLC now owns 36,892 shares of the luxury accessories retailer's stock valued at $1,733,000 after buying an additional 6,282 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

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.