Tapestry (NYSE:TPR) Given New $147.00 Price Target at JPMorgan Chase & Co.

Tapestry (NYSE:TPR) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $142.00 to $147.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the luxury accessories retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 41.80% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Evercore ISI upped their price target on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a report on Monday. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a report on Friday. Sanford C. Bernstein upped their target price on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.25.

Tapestry Stock Up 4.9%

Shares of Tapestry stock traded up $4.86 during trading hours on Friday, hitting $103.67. 6,611,070 shares of the company’s stock traded hands, compared to its average volume of 4,515,167. Tapestry has a twelve month low of $49.84 and a twelve month high of $118.56. The company has a market cap of $21.46 billion, a PE ratio of 164.55, a PEG ratio of 2.72 and a beta of 1.71. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The stock has a 50 day simple moving average of $110.91 and a 200-day simple moving average of $96.89.

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

Tapestry announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. increased its stake in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the first quarter worth approximately $25,000. First PREMIER Bank bought a new position in Tapestry in the 2nd quarter worth approximately $25,000. Cloud Capital Management LLC bought a new position in Tapestry in the 3rd quarter worth approximately $26,000. Finally, Vestor Capital LLC acquired a new stake in Tapestry in the 2nd quarter valued at approximately $27,000. 90.77% of the stock is 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.