Tapestry (NYSE:TPR) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Tapestry (NYSE:TPR) in a research note released on Thursday,Benzinga reports. The firm currently has a $54.00 price target on the luxury accessories retailer’s stock.

A number of other analysts have also weighed in on TPR. JPMorgan Chase & Co. increased their target price on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Evercore ISI increased their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Citigroup increased their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their target price on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $53.06.

Tapestry Stock Performance

NYSE:TPR opened at $52.22 on Thursday. The stock’s fifty day moving average is $45.28 and its 200 day moving average is $42.49. Tapestry has a fifty-two week low of $27.55 and a fifty-two week high of $52.50. The firm has a market capitalization of $12.16 billion, a PE ratio of 14.88, a PEG ratio of 1.85 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 (NYSE:TPR) last released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. Tapestry’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tapestry will post 4.46 earnings per share for the current year.

Tapestry Dividend Announcement

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

Institutional Investors Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new stake in Tapestry during the third quarter valued at about $251,000. Caprock Group LLC bought a new stake in Tapestry during the third quarter valued at about $240,000. Quest Partners LLC boosted its holdings in Tapestry by 243.5% in the third quarter. Quest Partners LLC now owns 43,563 shares of the luxury accessories retailer’s stock worth $2,047,000 after acquiring an additional 30,882 shares in the last quarter. Claro Advisors LLC acquired a new stake in Tapestry in the third quarter worth about $559,000. Finally, Valley Wealth Managers Inc. boosted its holdings in Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after acquiring an additional 8,833 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

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.