Tapestry (NYSE:TPR) had its price target increased by Wells Fargo & Co from $26.00 to $30.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the luxury accessories retailer’s stock.
A number of other equities research analysts also recently weighed in on TPR. UBS Group set a $25.00 price target on shares of Tapestry and gave the stock a buy rating in a research note on Friday, August 16th. Cowen downgraded shares of Tapestry from an outperform rating to a market perform rating and set a $22.00 price target for the company. in a research note on Thursday, August 29th. CIBC reissued a market perform rating on shares of Tapestry in a research note on Friday, August 16th. Goldman Sachs Group cut shares of Tapestry from a buy rating to a neutral rating and decreased their price objective for the company from $43.00 to $24.00 in a report on Friday, August 16th. Finally, Telsey Advisory Group cut shares of Tapestry from an outperform rating to a market perform rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $35.25.
Shares of NYSE TPR opened at $25.18 on Friday. Tapestry has a 1-year low of $18.54 and a 1-year high of $51.29. The company has a market cap of $7.34 billion, a PE ratio of 9.80, a P/E/G ratio of 1.02 and a beta of 0.98. The company has a current ratio of 2.79, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $24.62 and a two-hundred day moving average of $29.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Thursday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.34. Tapestry’s payout ratio is currently 52.53%.
Hedge funds have recently made changes to their positions in the company. Nelson Roberts Investment Advisors LLC bought a new stake in shares of Tapestry in the first quarter worth $26,000. Avestar Capital LLC lifted its position in shares of Tapestry by 2,225.0% in the first quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock worth $39,000 after purchasing an additional 1,157 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Tapestry in the second quarter worth $50,000. CSat Investment Advisory L.P. lifted its position in shares of Tapestry by 106.7% in the second quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock worth $58,000 after purchasing an additional 943 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Tapestry in the second quarter worth $61,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More: Analyst Ratings Trading
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.