Tapestry (NYSE:TPR) Hits New 1-Year Low at $27.80

Tapestry Inc (NYSE:TPR) shares reached a new 52-week low on Monday . The stock traded as low as $27.80 and last traded at $27.82, with a volume of 1639870 shares traded. The stock had previously closed at $29.75.

Several equities research analysts recently weighed in on TPR shares. Standpoint Research upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. UBS Group boosted their target price on Tapestry from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Piper Jaffray Companies set a $40.00 target price on Tapestry and gave the stock a “buy” rating in a report on Monday, June 10th. Zacks Investment Research lowered Tapestry from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Bank of America set a $48.00 target price on Tapestry and gave the stock a “buy” rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the company. Tapestry has a consensus rating of “Buy” and a consensus target price of $46.84.

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.86. The business has a 50-day moving average of $30.45. The firm has a market capitalization of $8.34 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.97 and a beta of 0.88.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Tapestry had a return on equity of 22.08% and a net margin of 11.78%. Tapestry’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. On average, analysts predict that Tapestry Inc will post 2.58 earnings per share for the current year.

In other news, Director Annabelle Yu Long sold 3,229 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.93, for a total transaction of $93,414.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Darrell Cavens acquired 7,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $30.01 per share, for a total transaction of $210,070.00. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPR. Nisa Investment Advisors LLC boosted its stake in Tapestry by 20.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 95,224 shares of the luxury accessories retailer’s stock valued at $3,094,000 after buying an additional 16,255 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in Tapestry in the 1st quarter valued at $14,426,000. Marshall Wace North America L.P. boosted its stake in Tapestry by 88.7% in the 1st quarter. Marshall Wace North America L.P. now owns 213,963 shares of the luxury accessories retailer’s stock valued at $6,951,000 after buying an additional 100,571 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tapestry by 178.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 324,534 shares of the luxury accessories retailer’s stock valued at $10,544,000 after buying an additional 208,123 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in Tapestry by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 107,908 shares of the luxury accessories retailer’s stock valued at $3,506,000 after buying an additional 1,082 shares in the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

Tapestry Company Profile (NYSE:TPR)

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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