Citigroup reissued their outperform rating on shares of Tapestry (NYSE:TPR) in a report issued on Thursday morning, The Fly reports. They currently have a $60.00 target price on the luxury accessories retailer’s stock, up from their previous target price of $55.00.
Other analysts have also issued research reports about the company. William Blair reissued an outperform rating on shares of Tapestry in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $48.00 target price on Tapestry and gave the company a hold rating in a research report on Monday, February 5th. Barclays boosted their target price on Tapestry from $47.00 to $51.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Credit Suisse Group began coverage on Tapestry in a research report on Monday, March 12th. They issued an outperform rating and a $60.00 target price on the stock. Finally, Zacks Investment Research raised Tapestry from a hold rating to a buy rating and set a $53.00 target price on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tapestry presently has an average rating of Buy and an average target price of $51.09.
Shares of Tapestry (NYSE TPR) opened at $52.77 on Thursday. The stock has a market capitalization of $14,919.29, a P/E ratio of 47.12, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51. Tapestry has a 12-month low of $37.92 and a 12-month high of $53.40.
Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. equities research analysts expect that Tapestry will post 2.58 EPS for the current year.
The company also recently announced a dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a dividend of $0.3375 per share. The ex-dividend date is Thursday, March 8th. Tapestry’s payout ratio is currently 120.54%.
In related news, insider Sarah Dunn sold 6,229 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan J. Kropf sold 6,185 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $314,198.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,551 shares of company stock valued at $7,020,158. Insiders own 0.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new position in Tapestry in the fourth quarter valued at $320,000. Xact Kapitalforvaltning AB acquired a new position in Tapestry in the fourth quarter valued at $2,594,000. Envestnet Asset Management Inc. acquired a new position in Tapestry in the fourth quarter valued at $8,020,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Tapestry in the fourth quarter valued at $6,114,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Tapestry in the fourth quarter valued at $308,000. Institutional investors own 89.28% of the company’s stock.
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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’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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