Tapestry (NYSE:TPR – Get Rating) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

Other equities analysts also recently issued reports about the stock. Cowen boosted their target price on shares of Tapestry from $40.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, August 19th. Credit Suisse Group boosted their price target on shares of Tapestry to $49.00 in a research note on Monday, August 22nd. Morgan Stanley dropped their price target on shares of Tapestry from $40.00 to $39.00 and set an "equal weight" rating for the company in a research note on Friday, August 19th. Cowen boosted their price target on shares of Tapestry from $40.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, August 19th. Finally, The Goldman Sachs Group dropped their price target on shares of Tapestry from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.44.

Tapestry Price Performance

NYSE:TPR opened at $30.95 on Friday. The firm has a market cap of $7.47 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.67 and a beta of 1.32. Tapestry has a 12 month low of $26.39 and a 12 month high of $47.05. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. The company's 50-day moving average price is $34.36 and its two-hundred day moving average price is $33.76.

Insider Activity

In related news, VP Manesh Dadlani sold 2,005 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.81, for a total transaction of $73,804.05. Following the completion of the transaction, the vice president now owns 33,681 shares in the company, valued at $1,239,797.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Manesh Dadlani sold 2,005 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.81, for a total transaction of $73,804.05. Following the completion of the transaction, the vice president now owns 33,681 shares in the company, valued at $1,239,797.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas A. Glaser sold 39,503 shares of the company's stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $35.38, for a total transaction of $1,397,616.14. Following the sale, the insider now directly owns 243,321 shares in the company, valued at $8,608,696.98. The disclosure for this sale can be found here. Insiders sold 47,110 shares of company stock worth $1,677,854 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tapestry

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. raised its position in shares of Tapestry by 340.7% in the first 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. Capital Analysts LLC bought a new position in shares of Tapestry in the first quarter valued at about $28,000. Ronald Blue Trust Inc. bought a new position in Tapestry during the second quarter worth about $30,000. AllSquare Wealth Management LLC bought a new position in Tapestry during the first quarter worth about $39,000. Finally, Quent Capital LLC bought a new position in Tapestry during the fourth quarter worth about $43,000. 90.77% of the stock is owned by institutional investors.

About Tapestry

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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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