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

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $64.76.

TPR has been the subject of a number of research reports. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Guggenheim boosted their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Citigroup boosted their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group upgraded shares of Tapestry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $80.00 in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group increased their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on 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. The trade was a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Tapestry

Large investors have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry in the third quarter worth approximately $25,000. Brooklyn Investment Group purchased a new position in shares of Tapestry in the 3rd quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Tapestry during the second quarter worth approximately $68,000. Abich Financial Wealth Management LLC acquired a new position in shares of Tapestry during the 2nd quarter valued at $69,000. Finally, Deseret Mutual Benefit Administrators boosted its position in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of TPR opened at $67.25 on Wednesday. The stock has a market cap of $15.67 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry has a 1-year low of $35.23 and a 1-year high of $69.09. The firm has a fifty day moving average price of $61.02 and a 200 day moving average price of $49.03.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

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.