Tapestry (NYSE:TPR) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Tapestry (NYSE:TPR) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities analysts also recently issued reports on TPR. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Bank of America raised their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Telsey Advisory Group raised their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.78.

Tapestry Price Performance

Shares of NYSE:TPR opened at $87.68 on Friday. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.30 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38. The firm has a 50 day simple moving average of $70.61 and a 200 day simple moving average of $55.34. Tapestry has a one year low of $35.23 and a one year high of $88.07.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the prior year, the business posted $1.63 earnings per share. Research analysts predict that Tapestry will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC grew its holdings in Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after purchasing an additional 150 shares during the period. Checchi Capital Advisers LLC grew its holdings in Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after purchasing an additional 163 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after purchasing an additional 170 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after buying an additional 182 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in shares of Tapestry by 1.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock valued at $833,000 after buying an additional 200 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.