Tapestry, Inc. (NYSE:TPR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tapestry, Inc. (NYSE:TPR) has earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.43.

Several brokerages have issued reports on TPR. UBS Group lowered their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. lowered their price objective on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Wells Fargo & Company reduced their target price on Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Evercore ISI reduced their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Hedge Funds Weigh In On Tapestry

Several large investors have recently added to or reduced their stakes in TPR. Park Avenue Securities LLC lifted its stake in Tapestry by 22.7% during the first quarter. Park Avenue Securities LLC now owns 9,664 shares of the luxury accessories retailer’s stock worth $459,000 after purchasing an additional 1,785 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Tapestry in the first quarter worth $863,000. Kingswood Wealth Advisors LLC acquired a new stake in Tapestry in the first quarter worth $253,000. Atlas Capital Advisors LLC acquired a new stake in Tapestry in the first quarter worth $69,000. Finally, DGS Capital Management LLC acquired a new stake in Tapestry in the first quarter worth $222,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 2.1 %

TPR opened at $44.47 on Friday. The firm has a 50 day moving average price of $43.34 and a 200 day moving average price of $41.84. The company has a market cap of $10.22 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company earned $0.95 earnings per share. Tapestry’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts expect that Tapestry will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.