Tapestry (NYSE:TPR) Price Target Raised to $135.00

Tapestry (NYSE:TPR) had its price target lifted by Jefferies Financial Group from $125.00 to $135.00 in a research report report published on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the luxury accessories retailer’s stock.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 22nd. The Goldman Sachs Group boosted their target price on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company raised their price target on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. UBS Group lowered their price objective on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, Bank of America cut Tapestry from a “buy” rating to a “neutral” rating and increased their target price for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.35.

Tapestry Price Performance

Shares of NYSE:TPR opened at $114.71 on Thursday. 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 twelve month low of $46.77 and a twelve month high of $118.56. The company’s 50 day moving average is $109.19 and its 200 day moving average is $94.09. The company has a market cap of $23.75 billion, a PE ratio of 182.08, a price-to-earnings-growth ratio of 2.76 and a beta of 1.57.

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

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio is presently 253.97%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. First PREMIER Bank purchased a new position in Tapestry in the second quarter worth approximately $25,000. Vestor Capital LLC acquired a new position in shares of Tapestry in the 2nd quarter valued at $27,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $25,000. Harbour Investments Inc. grew its holdings in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the period. Finally, CVA Family Office LLC increased its position in shares of Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.