Tapestry, Inc. (NYSE:TPR) Receives $83.06 Average PT from Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $83.89.

Several equities research analysts have recently weighed in on TPR shares. Citigroup upped their target price on Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Robert W. Baird upped their target price on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upped their target price on Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Jefferies Financial Group upped their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on Tapestry from $83.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th.

Tapestry Price Performance

TPR stock opened at $82.28 on Tuesday. The stock has a 50-day moving average price of $70.74 and a two-hundred day moving average price of $69.54. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $17.09 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Tapestry will post 4.91 EPS for the current 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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, June 6th. Tapestry’s payout ratio is currently 36.84%.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on 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 directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This represents a 14.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the sale, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,936 shares of company stock worth $9,101,139 over the last quarter. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $29,000. Greenline Partners LLC acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $35,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $35,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.