Tapestry (NYSE:TPR) Upgraded at Wall Street Zen

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

A number of other analysts also recently weighed in on the company. Telsey Advisory Group increased their price target on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their target price on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Wells Fargo & Company boosted their price target on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Citigroup increased their price target on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Tapestry Stock Performance

Shares of TPR stock opened at $156.59 on Friday. The stock has a market capitalization of $31.70 billion, a PE ratio of 64.71, a PEG ratio of 1.86 and a beta of 1.55. The business’s 50 day simple moving average is $138.69 and its 200 day simple moving average is $120.20. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry has a one year low of $58.39 and a one year high of $161.97.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company earned $2.00 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, research analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio is presently 66.12%.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the sale, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. The trade was a 25.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 165,539 shares of company stock valued at $25,364,406. Corporate insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in Tapestry by 2.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock worth $477,000 after buying an additional 73 shares in the last quarter. Northwest Wealth Management LLC boosted its holdings in Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after acquiring an additional 82 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock worth $405,000 after acquiring an additional 87 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Tapestry by 23.4% in the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock worth $60,000 after acquiring an additional 89 shares in the last quarter. Finally, Convergence Financial LLC raised its holdings in shares of Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.