Robert W. Baird Issues Positive Forecast for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its target price lifted by Robert W. Baird from $93.00 to $100.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the luxury accessories retailer’s stock.

Several other research firms also recently commented on TPR. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Guggenheim upped their price objective on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 7th. UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Telsey Advisory Group upped their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Down 2.9 %

Shares of NYSE TPR opened at $86.65 on Thursday. The stock has a market cap of $17.94 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry has a 52-week low of $35.23 and a 52-week high of $90.85. The business has a 50-day moving average price of $72.21 and a 200 day moving average price of $56.14.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the firm posted $1.63 earnings per share. Equities research analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Hedge Funds Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of TPR. Bleakley Financial Group LLC purchased a new position in Tapestry in the 3rd quarter valued at approximately $220,000. Blue Trust Inc. increased its stake in Tapestry by 107.0% in the 3rd quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after purchasing an additional 1,127 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in Tapestry in the 3rd quarter valued at approximately $25,000. Private Advisor Group LLC increased its stake in Tapestry by 18.7% in the 3rd quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in Tapestry in the 3rd quarter valued at approximately $1,552,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Tapestry

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.