Tapestry, Inc. (NYSE:TPR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $47.81.

Several research firms have recently commented on TPR. Raymond James increased their target price on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. Morgan Stanley restated an “equal weight” rating and set a $38.00 price objective on shares of Tapestry in a research note on Tuesday, December 12th. The Goldman Sachs Group raised their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company raised their price objective on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd.

Institutional Investors Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its stake in shares of Tapestry by 0.9% during the 1st quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock worth $1,275,000 after purchasing an additional 237 shares in the last quarter. Advisor Partners II LLC raised its stake in shares of Tapestry by 3.0% in the 1st quarter. Advisor Partners II LLC now owns 8,043 shares of the luxury accessories retailer’s stock valued at $347,000 after acquiring an additional 237 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Tapestry by 5.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock valued at $157,000 after acquiring an additional 297 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Tapestry by 0.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock valued at $3,158,000 after acquiring an additional 353 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Tapestry by 1.9% in the 4th quarter. Rafferty Asset Management LLC now owns 19,303 shares of the luxury accessories retailer’s stock valued at $711,000 after acquiring an additional 359 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.2 %

NYSE TPR opened at $42.93 on Monday. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80. The company has a 50-day moving average of $45.31 and a 200-day moving average of $36.73. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The company has a market cap of $9.85 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.88 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that Tapestry will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared 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 3.26%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

About Tapestry

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.