Tapestry (NYSE:TPR) Stock Picked Up by Analysts at TD Cowen

Research analysts at TD Cowen began coverage on shares of Tapestry (NYSE:TPR) in a research report issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the luxury accessories retailer’s stock.

A number of other research firms have also commented on TPR. Barclays boosted their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. BTIG Research cut their price target on Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Robert W. Baird lowered their price objective on shares of Tapestry from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.00.

Tapestry Stock Down 1.5%

Shares of TPR opened at $116.09 on Friday. The company has a market capitalization of $23.15 billion, a P/E ratio of 15.92, a PEG ratio of 1.49 and a beta of 1.42. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry has a one year low of $93.00 and a one year high of $164.80. The business’s 50 day simple moving average is $117.65 and its 200-day simple moving average is $137.09.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm posted $1.04 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts predict that Tapestry will post 7.95 EPS for the current fiscal year.

Insider Activity

In other Tapestry news, insider Denise Kulikowsky sold 5,810 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider directly owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tapestry

Several institutional investors have recently modified their holdings of TPR. Rakuten Investment Management Inc. lifted its holdings in Tapestry by 8.7% in the third quarter. Rakuten Investment Management Inc. now owns 35,961 shares of the luxury accessories retailer’s stock valued at $4,104,000 after buying an additional 2,890 shares during the period. AIA Group Ltd acquired a new stake in Tapestry during the 3rd quarter worth $1,736,000. Provenance Wealth Advisors LLC raised its position in shares of Tapestry by 47,250.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 4,735 shares of the luxury accessories retailer’s stock valued at $545,000 after acquiring an additional 4,725 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super raised its position in shares of Tapestry by 11.5% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 280,578 shares of the luxury accessories retailer’s stock valued at $32,278,000 after acquiring an additional 28,831 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Tapestry during the 3rd quarter valued at $263,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.