Tapestry (NYSE:TPR) Lowered to “Buy” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Tapestry (NYSE:TPR – Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company raised their price target on shares of Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Sanford C. Bernstein restated an “outperform” rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Argus raised their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.47.

Check Out Our Latest Research Report on Tapestry

Tapestry Price Performance

TPR stock opened at $104.83 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry has a one year low of $40.24 and a one year high of $114.05. The firm has a market capitalization of $21.82 billion, a PE ratio of 166.39, a P/E/G ratio of 2.63 and a beta of 1.52. The firm has a 50-day moving average of $102.48 and a two-hundred day moving average of $84.95.

Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $0.40 dividend. 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%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry’s payout ratio is 253.97%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry 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 transaction, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently modified their holdings of TPR. Schroder Investment Management Group raised its position in shares of Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after purchasing an additional 3,775,593 shares during the period. Norges Bank bought a new position in shares of Tapestry in the second quarter valued at approximately $227,248,000. Southpoint Capital Advisors LP bought a new position in shares of Tapestry in the fourth quarter valued at approximately $130,660,000. Point72 Asset Management L.P. bought a new position in shares of Tapestry in the fourth quarter valued at approximately $101,433,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Tapestry in the fourth quarter valued at approximately $65,751,000. Institutional investors own 90.77% of the company’s stock.

About Tapestry

(Get Free Report)

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.

Featured Articles