Tapestry (NYSE:TPR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Tapestry (NYSE:TPR) from a buy rating to a hold rating in a report published on Saturday morning.

Several other brokerages have also recently commented on TPR. The Goldman Sachs Group boosted their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Barclays upped their target price on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Finally, Guggenheim upped their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $74.78.

Tapestry Trading Up 1.2 %

Shares of NYSE TPR opened at $87.68 on Friday. The company’s fifty day moving average is $70.61 and its 200-day moving average is $55.34. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58. Tapestry has a twelve month low of $35.23 and a twelve month high of $88.07. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the previous year, the company posted $1.63 EPS. Equities research analysts predict that Tapestry will post 4.7 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.60%. Tapestry’s payout ratio is presently 40.58%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPR. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the 3rd quarter worth approximately $25,000. Greenline Partners LLC acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC boosted its position in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Tapestry during the 3rd quarter worth approximately $47,000. 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.