Tapestry’s (TPR) Mixed Rating Reiterated at OTR Global

OTR Global restated their mixed rating on shares of Tapestry (NYSE:TPR) in a research report report published on Wednesday morning, Benzinga reports.

A number of other research analysts have also recently commented on TPR. Evercore ISI raised Tapestry from an in-line rating to an outperform rating and upped their price target for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Jefferies Financial Group lowered shares of Tapestry from a buy rating to a hold rating and set a $50.00 target price for the company. in a research report on Thursday, February 29th. TheStreet raised shares of Tapestry from a c+ rating to a b- rating in a research report on Tuesday, December 26th. Raymond James upped their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tapestry from $41.00 to $47.00 and gave the company a buy rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $47.81.

Tapestry Stock Performance

NYSE TPR opened at $40.63 on Wednesday. The company has a market capitalization of $9.32 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry has a 52-week low of $25.99 and a 52-week high of $48.80. The company has a 50-day simple moving average of $45.49 and a 200 day simple moving average of $37.51.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. On average, research analysts predict that Tapestry will post 4.25 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is 35.35%.

Institutional Investors Weigh In On Tapestry

Hedge funds have recently bought and sold shares of the stock. FDx Advisors Inc. raised its position in shares of Tapestry by 34.5% during the 3rd quarter. FDx Advisors Inc. now owns 8,735 shares of the luxury accessories retailer’s stock valued at $251,000 after buying an additional 2,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Tapestry by 9.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock valued at $10,527,000 after acquiring an additional 23,532 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Tapestry during the fourth quarter valued at about $1,107,000. Assenagon Asset Management S.A. lifted its stake in Tapestry by 189.5% during the third quarter. Assenagon Asset Management S.A. now owns 228,045 shares of the luxury accessories retailer’s stock worth $6,556,000 after purchasing an additional 149,268 shares during the last quarter. Finally, FCF Advisors LLC purchased a new position in shares of Tapestry in the 4th quarter worth about $1,013,000. 90.77% of the stock is currently 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.