Tapestry (NYSE:TPR) Given New $64.00 Price Target at Robert W. Baird

Tapestry (NYSE:TPR) had its target price upped by Robert W. Baird from $58.00 to $64.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the luxury accessories retailer’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. TD Cowen lowered 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. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Wells Fargo & Company increased their price objective on Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Raymond James reissued an “outperform” rating and set a $57.00 target price (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Tapestry Stock Performance

Shares of TPR opened at $56.55 on Friday. Tapestry has a 1 year low of $30.19 and a 1 year high of $58.49. The stock has a market capitalization of $13.18 billion, a PE ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The stock has a 50-day simple moving average of $46.85 and a 200-day simple moving average of $43.12.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its stake in shares of Tapestry by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 106,750 shares of the luxury accessories retailer’s stock worth $5,068,000 after acquiring an additional 2,599 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Tapestry in the first quarter valued at about $360,000. State Board of Administration of Florida Retirement System boosted its holdings in Tapestry by 6.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 279,772 shares of the luxury accessories retailer’s stock valued at $13,284,000 after purchasing an additional 15,828 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Tapestry by 21.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,818 shares of the luxury accessories retailer’s stock worth $7,588,000 after purchasing an additional 28,355 shares during the period. Finally, Blair William & Co. IL purchased a new position in shares of Tapestry during the 1st quarter worth approximately $216,000. 90.77% of the stock is 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.