Analysts Set Tapestry, Inc. (NYSE:TPR) Price Target at $78.53

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $78.53.

A number of equities research analysts have weighed in on TPR shares. Daiwa America raised shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Telsey Advisory Group boosted their price objective on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. The Goldman Sachs Group increased their price objective on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Robert W. Baird upped their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th.

Tapestry Trading Down 0.2 %

NYSE TPR opened at $81.12 on Thursday. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. Tapestry has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business’s fifty day moving average is $75.49 and its 200 day moving average is $59.01.

Tapestry (NYSE:TPR) last announced 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 quarter last year, the business earned $1.63 EPS. As a group, sell-side analysts expect that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.73%. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Transactions at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tapestry during the fourth quarter valued at about $15,001,000. Jefferies Financial Group Inc. bought a new position in Tapestry in the 4th quarter valued at about $562,000. B. Riley Wealth Advisors Inc. acquired a new position in Tapestry during the 4th quarter valued at about $231,000. American Trust bought a new stake in Tapestry during the 4th quarter worth approximately $253,000. Finally, Forum Financial Management LP purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $333,000. 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.