Tapestry’s (TPR) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Tapestry (NYSE:TPR) in a research report sent to investors on Thursday,Benzinga reports. Telsey Advisory Group currently has a $54.00 price target on the luxury accessories retailer’s stock.

TPR has been the topic of several other reports. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Evercore ISI lifted their price objective on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Citigroup raised their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.06.

Tapestry Stock Performance

Shares of TPR stock traded up $0.60 on Thursday, reaching $52.15. The stock had a trading volume of 2,541,123 shares, compared to its average volume of 3,294,008. The stock has a market cap of $12.14 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. Tapestry has a 1 year low of $27.55 and a 1 year high of $52.50. The company has a 50 day simple moving average of $45.05 and a 200 day simple moving average of $42.38.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Tapestry will post 4.46 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is 39.89%.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Banque Cantonale Vaudoise purchased a new stake in Tapestry in the third quarter worth $251,000. Caprock Group LLC bought a new position in shares of Tapestry in the third quarter worth about $240,000. Quest Partners LLC increased its stake in Tapestry by 243.5% in the 3rd quarter. Quest Partners LLC now owns 43,563 shares of the luxury accessories retailer’s stock worth $2,047,000 after buying an additional 30,882 shares during the period. Claro Advisors LLC bought a new stake in Tapestry during the 3rd quarter valued at about $559,000. Finally, Valley Wealth Managers Inc. boosted its position in Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after buying an additional 8,833 shares during the period. 90.77% of the stock is owned by hedge funds and other 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.