Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $169.8824.

A number of research analysts recently commented on TPR shares. Citigroup increased their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Robert W. Baird raised their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. BTIG Research reiterated a “buy” rating and issued a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $164.00 target price on shares of Tapestry in a research report on Monday, July 6th.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Institutional Trading of Tapestry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its position in shares of Tapestry by 0.8% during the second quarter. Wedge Capital Management L L P NC now owns 248,661 shares of the luxury accessories retailer’s stock valued at $36,399,000 after buying an additional 2,014 shares during the period. Tema ETFs LLC grew its stake in shares of Tapestry by 10.0% during the second quarter. Tema ETFs LLC now owns 6,371 shares of the luxury accessories retailer’s stock valued at $933,000 after buying an additional 580 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Tapestry by 87.7% in the second quarter. Fulton Bank N.A. now owns 6,053 shares of the luxury accessories retailer’s stock worth $886,000 after buying an additional 2,829 shares during the period. Vista Investment Partners LLC purchased a new stake in shares of Tapestry in the second quarter worth approximately $4,830,000. Finally, Contravisory Investment Management Inc. lifted its stake in shares of Tapestry by 56.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 8,419 shares of the luxury accessories retailer’s stock worth $1,232,000 after acquiring an additional 3,030 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Tapestry stock traded up $1.20 during mid-day trading on Friday, reaching $141.12. 1,413,179 shares of the company’s stock traded hands, compared to its average volume of 2,637,429. Tapestry has a 12-month low of $92.62 and a 12-month high of $161.97. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock has a 50 day moving average of $141.47 and a two-hundred day moving average of $141.71. The company has a market cap of $28.51 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 1.29 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts forecast that Tapestry will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.40 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.

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.