Tapestry (NYSE:TPR) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of Tapestry (NYSE:TPR) to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Robert W. Baird increased their target price on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. BMO Capital Markets increased their target price on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Citigroup raised their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Stock Down 0.6 %

Shares of NYSE TPR opened at $55.30 on Monday. The business has a 50-day moving average of $47.41 and a 200-day moving average of $43.32. The firm has a market capitalization of $12.89 billion, a price-to-earnings 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 12 month low of $30.20 and a 12 month high of $58.49.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were 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 $2,028,773.88. The trade was 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 corporate insiders.

Institutional Trading of Tapestry

Institutional investors have recently bought and sold shares of the company. Blair William & Co. IL acquired a new stake in Tapestry during the 1st quarter valued at $216,000. UniSuper Management Pty Ltd boosted its stake in shares of Tapestry by 845.4% during the first quarter. UniSuper Management Pty Ltd now owns 18,729 shares of the luxury accessories retailer’s stock valued at $889,000 after acquiring an additional 16,748 shares during the last quarter. Bessemer Group Inc. increased its position in Tapestry by 1,328.8% during the 1st quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock worth $1,432,000 after purchasing an additional 28,038 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Tapestry by 4.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 149,304 shares of the luxury accessories retailer’s stock valued at $7,095,000 after purchasing an additional 6,813 shares during the last quarter. Finally, Natixis lifted its holdings in Tapestry by 62.3% in the 1st quarter. Natixis now owns 19,788 shares of the luxury accessories retailer’s stock valued at $940,000 after purchasing an additional 7,593 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.