Tapestry (NYSE:TPR) Price Target Raised to $75.00 at JPMorgan Chase & Co.

Tapestry (NYSE:TPR) had its target price lifted by JPMorgan Chase & Co. from $66.00 to $75.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the luxury accessories retailer’s stock.

A number of other research analysts also recently commented on the stock. Citigroup lifted their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. The Goldman Sachs Group raised their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Evercore ISI boosted their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Guggenheim raised their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.47.

Tapestry Trading Down 2.7 %

Shares of Tapestry stock opened at $62.08 on Monday. The stock has a market cap of $14.47 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.80 and a beta of 1.60. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry has a 12-month low of $35.23 and a 12-month high of $65.30. The business’s 50 day moving average is $54.28 and its 200-day moving average is $46.19.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.26%. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently modified their holdings of the business. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in Tapestry during the third quarter worth about $47,000. Blue Trust Inc. lifted its holdings 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 worth $50,000 after acquiring an additional 556 shares during the last quarter. MUFG Securities EMEA plc boosted its stake in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Tapestry during the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds 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.