Tapestry, Inc. (NYSE:TPR - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $68.42 and last traded at $67.63, with a volume of 5162420 shares trading hands. The stock had previously closed at $66.77.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TPR. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $66.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. The Goldman Sachs Group lifted their price target on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Evercore ISI increased their price objective on Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Daiwa America upgraded shares of Tapestry to a "hold" rating in a research report on Monday, November 18th. Finally, Robert W. Baird increased their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.24.
Check Out Our Latest Report on Tapestry
Tapestry Stock Down 0.3 %
The stock has a market cap of $15.71 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The stock's 50-day moving average is $59.79 and its 200-day moving average is $48.48.
Tapestry Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry's payout ratio is 40.46%.
Insider Buying and Selling
In related news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.18% of the company's stock.
Hedge Funds Weigh In On Tapestry
A number of large investors have recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. boosted its position in Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock valued at $357,732,000 after purchasing an additional 272,007 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock worth $285,580,000 after purchasing an additional 58,135 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock valued at $262,156,000 after buying an additional 80,681 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock valued at $151,965,000 after buying an additional 165,406 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
Tapestry Company Profile
(
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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