Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $47.81.

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, February 29th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. Finally, Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th.

Tapestry Trading Down 1.2 %

TPR stock opened at $38.99 on Friday. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. Tapestry has a twelve month low of $25.99 and a twelve month high of $48.80. The company has a market cap of $8.94 billion, a P/E ratio of 9.85, a PEG ratio of 0.81 and a beta of 1.61. The business has a fifty day moving average of $43.95 and a 200-day moving average of $38.62.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. As a group, equities research analysts expect that Tapestry will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is currently 35.35%.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of TPR. Balyasny Asset Management L.P. acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $102,531,000. Capital Research Global Investors boosted its position in Tapestry by 77.2% during the fourth quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock worth $211,611,000 after purchasing an additional 2,504,135 shares during the period. Norges Bank acquired a new position in shares of Tapestry in the fourth quarter valued at $79,352,000. Fiera Capital Corp bought a new position in shares of Tapestry in the fourth quarter valued at about $52,121,000. Finally, Invesco Ltd. lifted its stake in shares of Tapestry by 37.8% during the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after buying an additional 1,205,207 shares during the last quarter. 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.