Tapestry, Inc. (NYSE:TPR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $88.06 and last traded at $87.85, with a volume of 2092003 shares changing hands. The stock had previously closed at $86.64.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Daiwa America raised shares of Tapestry to a "hold" rating in a research note on Monday, November 18th. Robert W. Baird upped their price objective on shares of Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday. Barclays upped their price objective 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. Finally, Citigroup increased their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $76.63.
View Our Latest Research Report on TPR
Tapestry Stock Performance
The company has a fifty day moving average price of $70.61 and a 200 day moving average price of $55.34. The stock has a market cap of $20.96 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.30 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38.
Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the company earned $1.63 EPS. On average, equities analysts expect that Tapestry, Inc. will post 4.7 EPS for the current year.
Tapestry Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 dividend on an annualized basis and a yield of 1.56%. Tapestry's dividend payout ratio is currently 40.58%.
Institutional Investors Weigh In On Tapestry
Several institutional investors have recently bought and sold shares of TPR. Greenline Partners LLC purchased a new stake in Tapestry in the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC lifted its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of Tapestry in the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its stake in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Tapestry during the 4th quarter valued at approximately $48,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
About Tapestry
(
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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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