Tapestry (NYSE:TPR) Upgraded to “Hold” at Daiwa America

Tapestry (NYSE:TPR) was upgraded by Daiwa America to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Raymond James reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Robert W. Baird raised their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Guggenheim boosted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. Citigroup raised their price objective on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Telsey Advisory Group lifted their price objective on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Stock Performance

Tapestry stock opened at $55.30 on Monday. The company has a market cap of $12.89 billion, a PE ratio of 15.98, a PEG ratio of 1.98 and a beta of 1.53. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry has a 1 year low of $30.20 and a 1 year high of $58.49. The company’s 50-day moving average is $47.41 and its two-hundred day moving average is $43.32.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

Hedge funds have recently modified their holdings of the stock. Waldron Private Wealth LLC acquired a new stake in Tapestry during the third quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the period. Brooklyn Investment Group bought a new stake in Tapestry in the 3rd quarter valued at $47,000. Blue Trust Inc. grew its holdings in Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after buying an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc increased its position in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the period. 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.