Tapestry’s (TPR) Outperform Rating Reaffirmed at Telsey Advisory Group

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They presently have a $125.00 price objective on the luxury accessories retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 22.41% from the stock’s current price.

A number of other research analysts also recently commented on TPR. JPMorgan Chase & Co. increased their target price on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Raymond James Financial increased their target price on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group lifted their price target on shares of Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company increased their price objective on shares of Tapestry from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. 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 currently has an average rating of “Moderate Buy” and an average price target of $116.50.

Tapestry Stock Up 3.3%

Shares of NYSE TPR traded up $3.31 during trading on Friday, reaching $102.12. 2,996,078 shares of the stock were exchanged, compared to its average volume of 4,504,710. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 162.13, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. The business’s 50-day moving average price is $110.91 and its 200 day moving average price is $96.89. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry has a twelve month low of $49.84 and a twelve month high of $118.56.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’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. As a group, equities analysts forecast that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. boosted its position in Tapestry by 120.1% during 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 last quarter. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter worth $25,000. First PREMIER Bank bought a new position in shares of Tapestry during the 2nd quarter valued at $25,000. Cloud Capital Management LLC bought a new stake in Tapestry in the third quarter worth $26,000. Finally, Vestor Capital LLC bought a new position in Tapestry during the second quarter valued at about $27,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.