Brokerages Set Tapestry, Inc. (NYSE:TPR) PT at $108.42

Shares of Tapestry, Inc. (NYSE:TPR) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $108.4211.

A number of research firms have recently commented on TPR. UBS Group cut their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Argus upped their target price on Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. upped their target price on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Evercore ISI lowered their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 15th.

Tapestry Trading Down 4.5%

Shares of NYSE TPR opened at $108.35 on Friday. The stock has a market capitalization of $22.43 billion, a P/E ratio of 171.98, a PEG ratio of 2.61 and a beta of 1.57. The business’s 50 day moving average is $107.67 and its two-hundred day moving average is $90.84. Tapestry has a 1-year low of $43.07 and a 1-year high of $117.77. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts expect that Tapestry will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date was Friday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is presently 253.97%.

Insider Buying and Selling

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

Institutional Trading of Tapestry

A number of hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. purchased a new stake in Tapestry during the third quarter worth $77,801,000. Lifestyle Asset Management Inc. lifted its holdings in Tapestry by 3.0% during the third quarter. Lifestyle Asset Management Inc. now owns 17,793 shares of the luxury accessories retailer’s stock worth $2,015,000 after buying an additional 511 shares during the period. Riversedge Advisors LLC purchased a new stake in Tapestry during the third quarter worth $238,000. Wedmont Private Capital lifted its holdings in Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after buying an additional 139 shares during the period. Finally, Czech National Bank increased its position in shares of Tapestry by 4.1% during the third quarter. Czech National Bank now owns 52,860 shares of the luxury accessories retailer’s stock worth $5,985,000 after purchasing an additional 2,079 shares in the last quarter. Hedge funds and other 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.