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Jul 13, 2023

Tapestry, Inc. (NYSE:TPR) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the company,

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $50.46.

Several research firms have weighed in on TPR. Barclays upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $47.00 to $59.00 in a research note on Tuesday, August 1st. Telsey Advisory Group reiterated an "outperform" rating and issued a $49.00 price objective on shares of Tapestry in a research note on Thursday, August 17th. Edward Jones lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Friday, August 11th. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of Tapestry in a research note on Wednesday. Finally, Sanford C. Bernstein upgraded shares of Tapestry from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $50.00 to $55.00 in a research note on Monday, May 15th.

Read Our Latest Analysis on TPR

Several large investors have recently modified their holdings of TPR. Brown Brothers Harriman & Co. boosted its holdings in Tapestry by 340.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 511 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Tapestry in the 3rd quarter valued at $26,000. Glass Jacobson Investment Advisors llc bought a new stake in Tapestry in the 2nd quarter valued at $27,000. Allworth Financial LP boosted its holdings in Tapestry by 196.8% in the 1st quarter. Allworth Financial LP now owns 659 shares of the luxury accessories retailer's stock valued at $28,000 after purchasing an additional 437 shares during the period. Finally, ING Groep NV bought a new stake in Tapestry in the 1st quarter valued at $29,000. 92.63% of the stock is owned by institutional investors.

Shares of NYSE:TPR opened at $32.99 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.12 and a current ratio of 1.84. The company has a market cap of $7.50 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. Tapestry has a 52 week low of $27.53 and a 52 week high of $47.48. The firm has a 50 day simple moving average of $40.76 and a 200 day simple moving average of $41.51.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 17th. The luxury accessories retailer reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.65 billion. Tapestry had a net margin of 14.05% and a return on equity of 41.10%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, research analysts expect that Tapestry will post 4.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be issued a dividend of $0.35 per share. This is an increase from Tapestry's previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, September 7th. Tapestry's dividend payout ratio is currently 30.93%.

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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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