Brokerages Set Tapestry, Inc. (NYSE:TPR) Price Target at $47.56

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $47.56.

A number of brokerages recently issued reports on TPR. OTR Global reissued a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Bernstein Bank raised their price objective on shares of Tapestry from $46.00 to $48.00 in a research note on Thursday, May 9th. UBS Group decreased their price objective on Tapestry from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Friday, August 9th. Finally, Wells Fargo & Company decreased their price target on Tapestry from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the sale, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

A number of institutional investors and hedge funds have recently modified their holdings of TPR. Asset Management One Co. Ltd. increased its stake in Tapestry by 13.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 29,213 shares of the luxury accessories retailer’s stock valued at $1,083,000 after buying an additional 3,425 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Tapestry by 3,326.2% during the 4th quarter. International Assets Investment Management LLC now owns 111,350 shares of the luxury accessories retailer’s stock worth $4,099,000 after purchasing an additional 108,100 shares in the last quarter. Allworth Financial LP increased its holdings in Tapestry by 62.0% in the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after buying an additional 620 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Tapestry by 71.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,066 shares of the luxury accessories retailer’s stock worth $3,168,000 after purchasing an additional 35,991 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Tapestry in the 4th quarter valued at $218,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE TPR opened at $38.24 on Friday. Tapestry has a 1-year low of $25.99 and a 1-year high of $48.80. The stock has a 50-day moving average of $41.05 and a two-hundred day moving average of $42.58. The company has a market cap of $8.79 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98.

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.