Tapestry Inc (TPR) Receives $50.42 Consensus Target Price from Analysts

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Tapestry Inc (NYSE:TPR) has earned a consensus rating of “Buy” from the thirty-three research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $49.96.

A number of analysts recently issued reports on the company. KeyCorp decreased their target price on Tapestry from $62.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, February 8th. They noted that the move was a valuation call. MKM Partners decreased their price objective on Tapestry to $52.00 in a research report on Monday, February 11th. Guggenheim reaffirmed a “buy” rating and set a $52.00 price objective on shares of Tapestry in a research report on Tuesday, January 29th. Cowen decreased their price objective on Tapestry from $62.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, February 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Tapestry from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a research report on Thursday.

Shares of NYSE TPR traded down $0.27 during trading hours on Wednesday, reaching $32.30. The stock had a trading volume of 2,965,149 shares, compared to its average volume of 4,067,476. The stock has a market cap of $9.44 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.71. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. Tapestry has a fifty-two week low of $30.69 and a fifty-two week high of $55.50.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. Tapestry had a net margin of 12.18% and a return on equity of 23.84%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. Sell-side analysts anticipate that Tapestry will post 2.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s payout ratio is currently 51.33%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Bank of New York Mellon Corp increased its stake in Tapestry by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,889,240 shares of the luxury accessories retailer’s stock valued at $195,512,000 after purchasing an additional 28,796 shares in the last quarter. Martingale Asset Management L P grew its holdings in Tapestry by 253.8% during the 3rd quarter. Martingale Asset Management L P now owns 26,235 shares of the luxury accessories retailer’s stock valued at $1,319,000 after buying an additional 18,820 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Tapestry during the 3rd quarter valued at $584,000. Dimensional Fund Advisors LP grew its holdings in Tapestry by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,649,011 shares of the luxury accessories retailer’s stock valued at $82,895,000 after buying an additional 10,533 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in Tapestry during the 3rd quarter valued at $215,000. 90.84% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

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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Analyst Recommendations for Tapestry (NYSE:TPR)

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