Tapestry, Inc. (NYSE:TPR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $65.60 and last traded at $65.26, with a volume of 151052 shares changing hands. The stock had previously closed at $65.28.
Analyst Ratings Changes
TPR has been the subject of several research analyst reports. Evercore ISI upped their target price on Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $66.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Daiwa America raised shares of Tapestry to a "hold" rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $61.24.
View Our Latest Stock Report on TPR
Tapestry Trading Up 1.4 %
The business's 50-day simple moving average is $56.63 and its two-hundred day simple moving average is $47.05. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.80 and a beta of 1.60. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry's payout ratio is 40.46%.
Insider Transactions at Tapestry
In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.18% of the company's stock.
Hedge Funds Weigh In On Tapestry
Several institutional investors have recently modified their holdings of the business. Waldron Private Wealth LLC acquired a new position in Tapestry during the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Tapestry during the third quarter worth about $47,000. MUFG Securities EMEA plc grew its position in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after buying an additional 317 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Tapestry during the second quarter worth approximately $53,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Tapestry in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 90.77% of the company's stock.
About Tapestry
(
Get Free Report)
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.
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