Wells Fargo & Co reaffirmed their buy rating on shares of Tapestry (NYSE:TPR) in a report issued on Thursday, AnalystRatings.com reports.

Several other equities analysts have also recently weighed in on the stock. Telsey Advisory Group cut shares of Tapestry from an outperform rating to a market perform rating in a research note on Thursday, August 15th. Bank of America set a $28.00 target price on shares of Tapestry and gave the company a buy rating in a research note on Wednesday, September 4th. Goldman Sachs Group cut shares of Tapestry from a buy rating to a neutral rating and cut their target price for the company from $43.00 to $24.00 in a research note on Friday, August 16th. MKM Partners cut their target price on shares of Tapestry from $34.00 to $22.00 and set a market perform rating for the company in a research note on Friday, August 16th. Finally, Oppenheimer cut shares of Tapestry from an outperform rating to a market perform rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. Tapestry presently has a consensus rating of Buy and a consensus target price of $35.25.

TPR traded down $0.32 during midday trading on Thursday, hitting $25.26. 4,386,917 shares of the company’s stock traded hands, compared to its average volume of 8,050,989. Tapestry has a one year low of $18.54 and a one year high of $51.29. The company has a market cap of $7.22 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.79 and a quick ratio of 1.94. The stock’s fifty day simple moving average is $24.73 and its 200-day simple moving average is $29.89.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Tapestry had a net margin of 10.68% and a return on equity of 21.64%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect that Tapestry will post 2.57 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.338 dividend. The ex-dividend date is Thursday, September 5th. This is a boost from Tapestry’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 5.35%. Tapestry’s dividend payout ratio (DPR) is 52.53%.

A number of hedge funds have recently added to or reduced their stakes in TPR. Marshall Wace North America L.P. lifted its position in shares of Tapestry by 88.7% during the first quarter. Marshall Wace North America L.P. now owns 213,963 shares of the luxury accessories retailer’s stock worth $6,951,000 after purchasing an additional 100,571 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Tapestry by 16.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 983,864 shares of the luxury accessories retailer’s stock worth $31,218,000 after acquiring an additional 136,187 shares in the last quarter. Systematic Financial Management LP lifted its position in Tapestry by 65.9% during the 1st quarter. Systematic Financial Management LP now owns 13,600 shares of the luxury accessories retailer’s stock worth $442,000 after acquiring an additional 5,400 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Tapestry during the 1st quarter worth approximately $4,007,000. Finally, Aperio Group LLC lifted its position in Tapestry by 0.4% during the 2nd quarter. Aperio Group LLC now owns 124,155 shares of the luxury accessories retailer’s stock worth $3,940,000 after acquiring an additional 530 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

Tapestry Company Profile

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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