Tapestry, Inc. (NYSE:TPR) Receives $61.24 Consensus PT from Analysts

Tapestry, Inc. (NYSE:TPR) has earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $64.76.

Several equities research analysts recently commented on TPR shares. Robert W. Baird boosted their price target on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. BMO Capital Markets upped their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Bank of America raised their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th.

Tapestry Trading Down 1.9 %

Shares of Tapestry stock opened at $67.25 on Wednesday. The company has a market cap of $15.67 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $69.09. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The firm has a 50-day simple moving average of $61.02 and a two-hundred day simple moving average of $49.03.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is 40.46%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new stake in Tapestry during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in Tapestry in the 3rd quarter valued at about $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Tapestry during the second quarter worth approximately $68,000. Abich Financial Wealth Management LLC acquired a new stake in Tapestry in the second quarter valued at approximately $69,000. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.