Tapestry, Inc. (NYSE:TPR) Receives $78.53 Consensus PT from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $78.53.

TPR has been the topic of a number of research reports. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Finally, Jefferies Financial Group increased their price objective on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th.

Insider Activity at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the sale, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tapestry

Institutional investors have recently modified their holdings of the stock. Greenline Partners LLC purchased a new stake in Tapestry during the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC raised its stake in shares of Tapestry by 40.7% in the fourth 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 during the period. Venturi Wealth Management LLC lifted its holdings 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 worth $38,000 after acquiring an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Tapestry during the 4th quarter worth about $48,000. Finally, Brooklyn Investment Group bought a new position in Tapestry during the 3rd quarter valued at about $47,000. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Down 3.4 %

Shares of TPR stock opened at $70.25 on Monday. The stock has a market capitalization of $14.54 billion, a P/E ratio of 20.36, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average is $77.65 and its 200 day moving average is $63.09. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Research analysts expect that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Tapestry Company Profile

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.