Tapestry’s (TPR) Outperform Rating Reaffirmed at Raymond James

Raymond James reiterated their outperform rating on shares of Tapestry (NYSE:TPR) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $88.00 price target on the luxury accessories retailer’s stock, up from their prior price target of $79.00.

Several other equities analysts also recently weighed in on the company. UBS Group increased their target price on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Jefferies Financial Group increased their price target 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. Finally, Robert W. Baird boosted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $73.17.

Tapestry Stock Performance

Shares of NYSE TPR opened at $80.28 on Friday. The company has a 50-day simple moving average of $68.08 and a 200-day simple moving average of $53.27. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The company has a market cap of $18.71 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry has a 12 month low of $35.23 and a 12 month high of $87.87.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same period in the previous year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that Tapestry will post 4.63 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its stake in shares of Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after acquiring an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after purchasing an additional 170 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in Tapestry by 1.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock worth $833,000 after purchasing an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Tapestry by 0.5% in the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.