Sanford C. Bernstein upgraded shares of Tapestry (NYSE:TPR – Get Rating) from a market perform rating to an outperform rating in a report published on Monday, The Fly reports. They currently have $55.00 price target on the luxury accessories retailer’s stock, up from their previous price target of $50.00.
TPR has been the topic of several other research reports. Telsey Advisory Group reaffirmed an outperform rating and set a $52.00 target price on shares of Tapestry in a report on Thursday, February 9th. Robert W. Baird increased their price target on shares of Tapestry from $45.00 to $52.00 and gave the company an outperform rating in a research report on Friday, February 10th. The Goldman Sachs Group increased their price target on shares of Tapestry from $44.00 to $50.00 and gave the company a buy rating in a research report on Friday, February 10th. OTR Global raised shares of Tapestry from a mixed rating to a positive rating in a research report on Wednesday, April 19th. Finally, Credit Suisse Group raised their target price on shares of Tapestry from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Friday, February 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $48.29.
Tapestry Trading Up 4.5 %
TPR opened at $43.05 on Monday. Tapestry has a 1-year low of $27.53 and a 1-year high of $47.48. The company has a current ratio of 1.87, a quick ratio of 1.14 and a debt-to-equity ratio of 0.71. The company has a market cap of $9.98 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44. The company has a fifty day moving average price of $41.00 and a two-hundred day moving average price of $40.06.
Tapestry Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 27th. Stockholders of record on Friday, March 10th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. Tapestry’s payout ratio is 32.61%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its stake in shares of Tapestry by 340.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 511 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in shares of Tapestry during the 3rd quarter worth about $26,000. Assetmark Inc. lifted its position in shares of Tapestry by 2,382.1% during the 3rd quarter. Assetmark Inc. now owns 968 shares of the luxury accessories retailer’s stock worth $28,000 after purchasing an additional 929 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Tapestry during the 3rd quarter worth about $28,000. Finally, Allworth Financial LP raised its holdings in Tapestry by 196.8% in the 1st quarter. Allworth Financial LP now owns 659 shares of the luxury accessories retailer’s stock valued at $28,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment consists of global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors.
- Get a free copy of the StockNews.com research report on Tapestry (TPR)
- FREYR Battery Is An Interesting Play On EVs: At Rock Bottom
- Analysts Upgrade GXO Logistics, Its First Quarter Says It All
- The Bottom Is In For AppLovin; Reversal Is Next
- Exact Sciences Serves Investors Exactly What They Wished For
- Shockwave Medical, Fast Grower, In Boston Scientific’s Sights?
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.