Tapestry (NYSE:TPR) Earns Equal Weight Rating from Analysts at Barclays

Barclays started coverage on shares of Tapestry (NYSE:TPR) in a report issued on Tuesday morning, 24/7 WallStreet reports. The brokerage issued an equal weight rating and a $27.00 price target on the luxury accessories retailer’s stock.

A number of other analysts have also weighed in on TPR. Wells Fargo & Co reaffirmed a buy rating on shares of Tapestry in a research note on Tuesday, November 5th. HSBC lowered shares of Tapestry from a buy rating to a hold rating and set a $27.00 price target for the company. in a research note on Monday, October 28th. CIBC reissued a market perform rating on shares of Tapestry in a research note on Friday, August 16th. Cowen lowered shares of Tapestry from an outperform rating to a market perform rating and set a $22.00 target price for the company. in a research note on Thursday, August 29th. Finally, Needham & Company LLC reissued a buy rating and set a $35.00 target price on shares of Tapestry in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $32.61.

Shares of NYSE:TPR traded up $0.67 during trading on Tuesday, reaching $26.76. The company had a trading volume of 2,930,387 shares, compared to its average volume of 4,583,047. The firm’s fifty day moving average is $25.95 and its 200 day moving average is $27.57. The firm has a market capitalization of $7.18 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.02. Tapestry has a twelve month low of $18.54 and a twelve month high of $41.06. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.82.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. Equities analysts predict that Tapestry will post 2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 6th will be paid a $0.338 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.35 annualized dividend and a yield of 5.05%. Tapestry’s dividend payout ratio is presently 52.53%.

A number of institutional investors have recently added to or reduced their stakes in TPR. Prudential Financial Inc. increased its stake in Tapestry by 347.2% in the 2nd quarter. Prudential Financial Inc. now owns 4,946,057 shares of the luxury accessories retailer’s stock valued at $156,938,000 after buying an additional 3,840,023 shares during the period. Nuveen Asset Management LLC increased its stake in Tapestry by 39,001.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,790,642 shares of the luxury accessories retailer’s stock valued at $88,548,000 after buying an additional 2,783,505 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Tapestry by 28.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,326,188 shares of the luxury accessories retailer’s stock valued at $169,000,000 after buying an additional 1,182,774 shares during the period. Holocene Advisors LP increased its stake in Tapestry by 1,872.8% in the 2nd quarter. Holocene Advisors LP now owns 979,960 shares of the luxury accessories retailer’s stock valued at $31,094,000 after buying an additional 930,286 shares during the period. Finally, Natixis increased its stake in Tapestry by 6,554.9% in the 2nd quarter. Natixis now owns 909,994 shares of the luxury accessories retailer’s stock valued at $28,874,000 after buying an additional 896,320 shares during the period. Hedge funds and other institutional investors own 88.36% of the company’s stock.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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