Tapestry (NYSE:TPR) had its price objective upped by Morgan Stanley from $42.00 to $44.00 in a report published on Thursday morning. They currently have an underweight rating on the luxury accessories retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer boosted their price target on shares of Tapestry from $60.00 to $65.00 in a research note on Monday, April 30th. Robert W. Baird set a $60.00 price target on shares of Tapestry and gave the stock a buy rating in a research note on Wednesday, May 2nd. Buckingham Research cut their price target on shares of Tapestry from $62.00 to $57.00 and set a buy rating for the company in a research note on Wednesday, May 2nd. Deutsche Bank set a $63.00 price target on shares of Tapestry and gave the stock a buy rating in a research note on Wednesday, May 2nd. Finally, Loop Capital set a $59.00 price target on shares of Tapestry and gave the stock a buy rating in a research note on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Tapestry has an average rating of Buy and an average price target of $56.10.

TPR stock opened at $51.41 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.66 and a quick ratio of 1.83. Tapestry has a one year low of $38.70 and a one year high of $55.50. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 1.46 and a beta of 0.40.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. equities research analysts forecast that Tapestry will post 2.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.63%. Tapestry’s dividend payout ratio (DPR) is 62.79%.

Several institutional investors have recently made changes to their positions in TPR. CWM LLC boosted its position in Tapestry by 33.6% during the 2nd quarter. CWM LLC now owns 192,743 shares of the luxury accessories retailer’s stock valued at $9,003,000 after buying an additional 48,431 shares during the period. TCW Group Inc. boosted its position in Tapestry by 3.3% during the 2nd quarter. TCW Group Inc. now owns 2,479,549 shares of the luxury accessories retailer’s stock valued at $115,820,000 after buying an additional 79,076 shares during the period. Russell Investments Group Ltd. boosted its position in Tapestry by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 659,320 shares of the luxury accessories retailer’s stock valued at $34,655,000 after buying an additional 4,081 shares during the period. Janney Montgomery Scott LLC boosted its position in Tapestry by 16.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 52,144 shares of the luxury accessories retailer’s stock valued at $2,436,000 after buying an additional 7,390 shares during the period. Finally, Hodges Capital Management Inc. boosted its position in Tapestry by 78.7% during the 2nd quarter. Hodges Capital Management Inc. now owns 74,830 shares of the luxury accessories retailer’s stock valued at $3,495,000 after buying an additional 32,955 shares during the period. 90.23% of the stock is owned by institutional investors.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.

Recommended Story: Dividend

Analyst Recommendations for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.