Tapestry (NYSE:TPR) Price Target Raised to $147.00

Tapestry (NYSE:TPR) had its price objective raised by JPMorgan Chase & Co. from $142.00 to $147.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the luxury accessories retailer’s stock.

A number of other analysts also recently weighed in on the stock. Barclays upped their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Morgan Stanley boosted their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, UBS Group cut their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $116.25.

Tapestry Stock Up 4.9%

TPR stock opened at $103.67 on Friday. Tapestry has a fifty-two week low of $49.84 and a fifty-two week high of $118.56. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 164.55, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. The business’s 50 day moving average price is $110.95 and its two-hundred day moving average price is $97.62. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, analysts forecast that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s payout ratio is currently 142.86%.

Insider Activity

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated 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 directly owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock valued at $4,460,000 after acquiring an additional 9,049 shares during the last quarter. Jump Financial LLC increased its position in shares of Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after purchasing an additional 72,623 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after purchasing an additional 11,679 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Tapestry in the first quarter worth approximately $1,476,000. Finally, Nuveen LLC bought a new stake in Tapestry during the first quarter valued at approximately $59,133,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.