Tapestry's (TPR) "Outperform" Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Tapestry (NYSE:TPR - Free Report) in a research note published on Thursday morning,Benzinga reports. They currently have a $54.00 price objective on the luxury accessories retailer's stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $51.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Bank of America boosted their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Evercore ISI boosted their price target on shares of Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Citigroup boosted their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

Tapestry Stock Up 3.6 %

NYSE:TPR traded up $1.79 during midday trading on Thursday, hitting $51.55. 6,991,121 shares of the company were exchanged, compared to its average volume of 3,298,360. The company has a fifty day simple moving average of $44.83 and a 200 day simple moving average of $42.32. Tapestry has a fifty-two week low of $27.20 and a fifty-two week high of $52.50. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $12.00 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the business earned $0.95 EPS. Tapestry's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tapestry will post 4.46 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. Tapestry's dividend payout ratio (DPR) is currently 39.89%.

Hedge Funds Weigh In On Tapestry

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its stake in shares of Tapestry by 1,328.8% in the 1st quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer's stock valued at $1,432,000 after acquiring an additional 28,038 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Tapestry during the 2nd quarter worth $3,718,000. Lazard Asset Management LLC increased its stake in Tapestry by 611.8% during the 1st quarter. Lazard Asset Management LLC now owns 63,617 shares of the luxury accessories retailer's stock worth $3,019,000 after buying an additional 54,679 shares during the period. Clearbridge Investments LLC purchased a new stake in Tapestry during the 1st quarter worth $54,055,000. Finally, SG Americas Securities LLC increased its stake in Tapestry by 174.8% during the 1st quarter. SG Americas Securities LLC now owns 95,076 shares of the luxury accessories retailer's stock worth $4,514,000 after buying an additional 60,480 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

About Tapestry

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.