Tapestry’s (TPR) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Tapestry (NYSE:TPR) in a report issued on Thursday,Benzinga reports. They currently have a $92.00 price objective on the luxury accessories retailer’s stock.

TPR has been the subject of several other reports. Raymond James reissued an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Barclays cut their price objective on Tapestry from $100.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on Tapestry from $98.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.47.

Tapestry Price Performance

TPR opened at $72.75 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a fifty day simple moving average of $70.64 and a two-hundred day simple moving average of $66.88. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the firm posted $1.63 earnings per share. Research analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Activity

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock worth $5,730,589 over the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several hedge funds and other institutional investors have recently modified their holdings of the business. Greenline Partners LLC purchased a new stake in Tapestry in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted its stake in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Tapestry in the first quarter valued at approximately $35,000. MorganRosel Wealth Management LLC acquired a new position in Tapestry during the first quarter valued at $35,000. Finally, Venturi Wealth Management LLC lifted its holdings in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.