Tapestry (NYSE:TPR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

A number of other analysts have also issued reports on the company. Wells Fargo & Company reduced their target price on Tapestry from $52.00 to $50.00 and set an overweight rating for the company in a report on Friday, August 16th. Telsey Advisory Group restated an outperform rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Argus reiterated a buy rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on shares of Tapestry from $54.00 to $51.00 and set an overweight rating for the company in a report on Friday, August 16th. Finally, UBS Group dropped their price objective on shares of Tapestry from $42.00 to $40.00 and set a neutral rating on the stock in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $47.07.

Tapestry Trading Up 2.0 %

NYSE:TPR opened at $47.93 on Wednesday. The stock has a fifty day simple moving average of $40.94 and a 200 day simple moving average of $42.00. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. Tapestry has a 1-year low of $25.99 and a 1-year high of $48.80.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Sell-side analysts forecast that Tapestry will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s payout ratio is 37.04%.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently added to or reduced their stakes in TPR. Fidelis Capital Partners LLC acquired a new stake in shares of Tapestry in the first quarter worth $35,000. BNP Paribas acquired a new position in Tapestry during the 1st quarter worth $38,000. Massmutual Trust Co. FSB ADV boosted its holdings in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. grew its position in shares of Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its stake in shares of Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

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.