Shares of Tapestry (NYSE:TPR) have been assigned an average recommendation of “Buy” from the thirty-five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $51.75.
Several equities research analysts have recently weighed in on the company. Canaccord Genuity set a $58.00 price target on Tapestry and gave the company a “buy” rating in a research report on Sunday, January 7th. Buckingham Research upped their price target on Tapestry from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Loop Capital assumed coverage on Tapestry in a research report on Thursday, March 8th. They set a “buy” rating and a $57.00 price target on the stock. BMO Capital Markets upped their price target on Tapestry from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Finally, Cowen reiterated a “buy” rating and set a $54.00 price target on shares of Tapestry in a research report on Wednesday, January 31st.
Tapestry stock traded down $1.53 during midday trading on Friday, reaching $52.47. The stock had a trading volume of 3,526,540 shares, compared to its average volume of 2,319,057. Tapestry has a 12 month low of $38.47 and a 12 month high of $54.26. The stock has a market capitalization of $15,383.65, a P/E ratio of 24.40, a P/E/G ratio of 1.86 and a beta of 0.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.51 and a current ratio of 1.90.
Tapestry (NYSE:TPR) last announced its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. equities research analysts forecast that Tapestry will post 2.58 EPS for the current fiscal year.
The company also recently announced a dividend, which was paid on Monday, April 2nd. Shareholders of record on Friday, March 9th were paid a $0.3375 dividend. The ex-dividend date of this dividend was Thursday, March 8th. Tapestry’s dividend payout ratio is currently 62.79%.
In other news, CAO Todd Kahn sold 4,357 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.13, for a total transaction of $214,059.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarah Dunn sold 6,229 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,551 shares of company stock valued at $7,020,158. 0.98% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board boosted its stake in shares of Tapestry by 4.2% during the fourth quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock valued at $1,203,000 after purchasing an additional 1,100 shares during the period. Hexavest Inc. purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $106,000. First Dallas Securities Inc. purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $108,000. Dupont Capital Management Corp purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $110,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $118,000. 89.39% of the stock is owned by hedge funds and other institutional investors.
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Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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