Telsey Advisory Group Reiterates “Outperform” Rating for Tapestry (NYSE:TPR)

Telsey Advisory Group reiterated their outperform rating on shares of Tapestry (NYSE:TPR) in a report released on Friday morning,Benzinga reports. Telsey Advisory Group currently has a $92.00 target price on the luxury accessories retailer’s stock.

Several other analysts have also recently issued reports on TPR. Citigroup decreased their target price on shares of Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Raymond James restated an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Morgan Stanley upgraded Tapestry from an “equal weight” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Thursday. Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group lowered their price target on Tapestry from $98.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.22.

Tapestry Trading Up 0.6 %

TPR stock opened at $78.00 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a 50 day simple moving average of $69.75 and a two-hundred day simple moving average of $67.78. Tapestry has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Research analysts anticipate that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.79%. Tapestry’s payout ratio is currently 40.58%.

Insider Activity at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 over the last three months. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Tapestry

Institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC raised its stake in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Private Trust Co. NA grew its position in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 153 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after buying an additional 163 shares in the last quarter. Mather Group LLC. raised its position in Tapestry by 2.8% during the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer’s stock worth $424,000 after acquiring an additional 165 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after purchasing an additional 170 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.