Tapestry (NYSE:TPR) Hits New 52-Week High - Should You Buy?

Tapestry, Inc. (NYSE:TPR - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $55.50 and last traded at $55.50, with a volume of 429380 shares trading hands. The stock had previously closed at $51.26.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, November 7th. Bank of America boosted their price objective 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. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. UBS Group reduced their price objective on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, August 16th. Finally, Citigroup boosted their price objective 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Tapestry Stock Up 12.8 %

The stock has a market capitalization of $13.47 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The business's fifty day moving average price is $46.21 and its two-hundred day moving average price is $42.83.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, equities research analysts forecast that Tapestry, Inc. will post 4.55 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry's dividend payout ratio (DPR) is presently 40.46%.

Institutional Investors Weigh In On Tapestry

Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its holdings in Tapestry by 1,328.8% in the first quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer's stock valued at $1,432,000 after purchasing an additional 28,038 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Tapestry during the 2nd quarter worth about $3,718,000. Lazard Asset Management LLC boosted its stake in shares of 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 acquiring an additional 54,679 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Tapestry during the 1st quarter worth about $54,055,000. Finally, Fiera Capital Corp boosted its stake in shares of Tapestry by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer's stock worth $62,590,000 after acquiring an additional 17,497 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.