Tapestry (NYSE:TPR) Price Target Raised to $75.00

Tapestry (NYSE:TPR) had its target price increased by Wells Fargo & Company from $65.00 to $75.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the luxury accessories retailer’s stock.

TPR has been the topic of a number of other research reports. Raymond James reissued an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Robert W. Baird upped their price target on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Evercore ISI upped their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group decreased 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average price target of $57.82.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $56.55 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The business’s 50 day moving average price is $46.85 and its 200-day moving average price is $43.12. The firm has a market capitalization of $13.18 billion, a PE ratio of 16.34, a P/E/G ratio of 1.99 and a beta of 1.53. Tapestry has a 1 year low of $30.19 and a 1 year high of $58.49.

Tapestry Announces Dividend

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

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the 3rd quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after acquiring an additional 328 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry during the 3rd quarter worth about $47,000. Blue Trust Inc. boosted its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc boosted its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares in the last quarter. 90.77% of the stock is 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.