Tapestry (NYSE:TPR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Tapestry (NYSE:TPR - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other research firms also recently weighed in on TPR. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. BMO Capital Markets boosted their target price on Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research note on Monday, November 18th. Daiwa America raised Tapestry to a "hold" rating in a research note on Monday, November 18th. The Goldman Sachs Group boosted their price objective on Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Telsey Advisory Group raised their target price on shares of Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.63.

Tapestry Price Performance

TPR stock traded up $2.22 during mid-day trading on Friday, hitting $89.92. 1,147,762 shares of the stock were exchanged, compared to its average volume of 5,067,634. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.30 and a beta of 1.58. The business has a fifty day moving average price of $70.61 and a 200 day moving average price of $55.34. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.69.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the company earned $1.63 EPS. On average, sell-side analysts anticipate that Tapestry will post 4.7 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. 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 (DPR) is currently 40.58%.

Institutional Investors Weigh In On Tapestry

Hedge funds have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC lifted its position in 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 acquiring an additional 150 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Tapestry by 1.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock worth $580,000 after buying an additional 163 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Tapestry by 0.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock worth $1,261,000 after buying an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after acquiring an additional 182 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Tapestry by 1.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after acquiring an additional 200 shares during the last quarter. 90.77% of the stock is owned by 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.