Tapestry, Inc. (NYSE:TPR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $59.47.

TPR has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. Citigroup lifted their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Raymond James reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. Finally, The Goldman Sachs Group upped their price target on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPR. Pacer Advisors Inc. grew its holdings in Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after acquiring an additional 2,087,586 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Tapestry in the third quarter worth $64,016,000. AQR Capital Management LLC increased its holdings in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the period. Bank of Montreal Can raised its position in Tapestry by 76.6% during the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after purchasing an additional 539,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $62.08 on Friday. The firm’s fifty day moving average price is $54.28 and its two-hundred day moving average price is $46.19. 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 $14.47 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.80 and a beta of 1.60. Tapestry has a one year low of $35.23 and a one year high of $65.30.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

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.