Tapestry (NYSE:TPR) Given New $104.00 Price Target at JPMorgan Chase & Co.

Tapestry (NYSE:TPR) had its target price upped by equities researchers at JPMorgan Chase & Co. from $88.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the luxury accessories retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.45% from the stock’s current price.

Several other analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Evercore ISI increased their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group boosted their target price on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.78.

Tapestry Stock Up 2.7 %

NYSE:TPR opened at $83.57 on Wednesday. Tapestry has a 1 year low of $35.23 and a 1 year high of $87.87. The stock has a 50-day moving average price of $68.71 and a two-hundred day moving average price of $54.02. The stock has a market cap of $19.47 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.30 and a beta of 1.58. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $1.63 earnings per share. As a group, equities analysts expect that Tapestry will post 4.7 earnings per share for the current year.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Tapestry

A number of large investors have recently made changes to their positions in the company. Waldron Private Wealth LLC acquired a new position in Tapestry in the 3rd quarter valued at $25,000. Venturi Wealth Management LLC boosted its position in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the period. Brooklyn Investment Group acquired a new position in shares of Tapestry in the third quarter valued at about $47,000. Deseret Mutual Benefit Administrators grew its stake in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its position in Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.