Barclays Raises Tapestry (NYSE:TPR) Price Target to $100.00

Tapestry (NYSE:TPR) had its price target increased by Barclays from $87.00 to $100.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the luxury accessories retailer’s stock.

Several other brokerages also recently issued reports on TPR. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Jefferies Financial Group upped their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research note on Tuesday, October 29th. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, BMO Capital Markets raised their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.17.

Tapestry Stock Performance

NYSE:TPR opened at $80.28 on Friday. Tapestry has a twelve month low of $35.23 and a twelve month high of $87.87. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock’s 50-day simple moving average is $68.08 and its 200 day simple moving average is $53.27. The firm has a market capitalization of $18.71 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same period in the prior year, the company posted $1.63 EPS. On average, analysts anticipate that Tapestry will post 4.63 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.74%. Tapestry’s payout ratio is 40.46%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Waldron Private Wealth LLC bought a new stake in Tapestry in the third quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the period. Brooklyn Investment Group bought a new position in Tapestry in the third quarter worth approximately $47,000. UMB Bank n.a. grew its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares in the last quarter. 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.