Tapestry Inc (NYSE:TPR) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 9,799,300 shares, a decline of 30.7% from the November 15th total of 14,137,625 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily trading volume, of 2,773,917 shares, the short-interest ratio is presently 3.5 days.

Institutional investors have recently added to or reduced their stakes in the company. M&R Capital Management Inc. acquired a new position in shares of Tapestry in the third quarter valued at approximately $153,000. LMR Partners LLP acquired a new position in shares of Tapestry in the third quarter valued at approximately $229,000. Point View Wealth Management Inc. acquired a new position in shares of Tapestry in the third quarter valued at approximately $552,000. New Mexico Educational Retirement Board acquired a new position in shares of Tapestry in the third quarter valued at approximately $1,051,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Tapestry in the third quarter valued at approximately $4,916,000. Institutional investors own 88.10% of the company’s stock.

A number of equities research analysts recently weighed in on TPR shares. Sanford C. Bernstein started coverage on shares of Tapestry in a research note on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price target for the company. Vetr downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating and set a $45.90 price target for the company. in a research note on Wednesday, September 13th. Jefferies Group reissued a “hold” rating and set a $42.00 price target on shares of Tapestry in a research note on Saturday, September 16th. Barclays started coverage on shares of Tapestry in a research note on Tuesday, September 19th. They set an “equal weight” rating and a $45.00 price target for the company. Finally, Cowen reissued a “buy” rating and set a $46.00 price target on shares of Tapestry in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.70.

Tapestry (TPR) opened at $42.83 on Monday. The firm has a market cap of $12,180.00, a P/E ratio of 20.11, a PEG ratio of 1.61 and a beta of 0.46. Tapestry has a 1-year low of $34.16 and a 1-year high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. sell-side analysts expect that Tapestry will post 2.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 7th. Tapestry’s dividend payout ratio (DPR) is presently 83.85%.

WARNING: “Tapestry Inc (TPR) Short Interest Down 30.7% in November” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/12/18/tapestry-inc-tpr-short-interest-down-30-7-in-november.html.

Tapestry Company Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company‚Äôs brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.