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

Shares of Tapestry, Inc. (NYSE:TPR) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $47.82.

Several research analysts recently commented on the company. OTR Global reissued a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Raymond James raised their target price on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Wells Fargo & Company upped their price target on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th.

Tapestry Trading Up 3.6 %

NYSE:TPR opened at $40.37 on Friday. The company has a market cap of $9.26 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61. Tapestry has a twelve month low of $25.99 and a twelve month high of $48.80. The business has a 50 day moving average price of $43.64 and a two-hundred day moving average price of $38.64. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Tapestry will post 4.23 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.47%. Tapestry’s dividend payout ratio is currently 35.35%.

Hedge Funds Weigh In On Tapestry

A number of hedge funds have recently bought and sold shares of the business. Blair William & Co. IL bought a new stake in Tapestry in the 1st quarter valued at about $216,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Tapestry by 21.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,818 shares of the luxury accessories retailer’s stock valued at $7,588,000 after buying an additional 28,355 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Tapestry by 6.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 279,772 shares of the luxury accessories retailer’s stock valued at $13,284,000 after buying an additional 15,828 shares during the period. Patton Fund Management Inc. bought a new position in Tapestry during the 1st quarter worth $203,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Tapestry in the 1st quarter valued at $360,000. 90.77% of the stock is owned by institutional investors.

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.