Tapestry (NYSE:TPR) Upgraded at Redburn Atlantic

Redburn Atlantic upgraded shares of Tapestry (NYSE:TPR) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat.com reports. Redburn Atlantic currently has $110.00 price objective on the luxury accessories retailer’s stock.

A number of other equities research analysts also recently issued reports on TPR. Guggenheim upped their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Barclays lifted their price target on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Finally, Telsey Advisory Group lifted their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Stock Performance

Shares of Tapestry stock opened at $86.65 on Tuesday. The company has a market cap of $17.94 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry has a 52 week low of $35.23 and a 52 week high of $90.85. The business has a 50 day moving average price of $72.21 and a 200-day moving average price of $56.14.

Tapestry (NYSE:TPR) last released its quarterly earnings results 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 period last year, the company posted $1.63 earnings per share. Equities analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. Tapestry’s payout ratio is 40.58%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC boosted its position 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. Checchi Capital Advisers LLC boosted its holdings in Tapestry by 1.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after purchasing an additional 163 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Tapestry by 0.9% during the 4th 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 in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 182 shares during the period. Finally, E Fund Management Co. Ltd. raised its position in shares of Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock worth $833,000 after buying an additional 200 shares in the last quarter. Hedge funds and other 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.