Tapestry (NYSE:TPR – Free Report) had its target price raised by Wells Fargo & Company from $150.00 to $155.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the luxury accessories retailer’s stock.
Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Tapestry from $144.00 to $125.00 and set a “hold” rating on the stock in a research note on Wednesday, October 21st. Evercore lowered their target price on shares of Tapestry from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 14th. Telsey Advisory Group lifted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. BTIG Research cut their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $167.72.
Get Our Latest Stock Report on Tapestry
Tapestry Trading Down 0.9%
Shares of NYSE TPR traded down $1.14 during trading hours on Friday, hitting $133.03. 3,332,569 shares of the company traded hands, compared to its average volume of 2,427,080. The company’s 50 day moving average price is $117.41 and its 200 day moving average price is $136.95. Tapestry has a 12 month low of $99.00 and a 12 month high of $164.80. The stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.53 and a beta of 1.44. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44.
Tapestry (NYSE:TPR – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. Tapestry’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. On average, equities research analysts anticipate that Tapestry will post 7.98 earnings per share for the current fiscal year.
Tapestry Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Friday, December 4th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, December 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is presently 25.38%.
Insider Activity
In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the company’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 transaction, the insider owned 21,136 shares in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is owned by insiders.
Institutional Trading of Tapestry
A number of large investors have recently modified their holdings of TPR. Wellington Grp LLC purchased a new stake in shares of Tapestry in the 3rd quarter worth $1,091,000. Aberdeen Group plc increased its stake in shares of Tapestry by 628.3% during the third quarter. Aberdeen Group plc now owns 327,055 shares of the luxury accessories retailer’s stock valued at $37,624,000 after buying an additional 282,146 shares during the period. Citizens & Northern Corp increased its stake in shares of Tapestry by 2.8% during the third quarter. Citizens & Northern Corp now owns 10,163 shares of the luxury accessories retailer’s stock valued at $1,169,000 after buying an additional 276 shares during the period. Allworth Financial LP raised its holdings in shares of Tapestry by 0.6% in the third quarter. Allworth Financial LP now owns 15,429 shares of the luxury accessories retailer’s stock valued at $1,775,000 after acquiring an additional 95 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Tapestry by 1.7% in the third quarter. Fisher Asset Management LLC now owns 619,325 shares of the luxury accessories retailer’s stock valued at $71,247,000 after acquiring an additional 10,475 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Trending Headlines about Tapestry
Here are the key news stories impacting Tapestry this week:
- Positive Sentiment: Tapestry reported adjusted EPS of $1.82, above the $1.56 consensus, and revenue of $1.89 billion, topping the $1.85 billion estimate and rising 11.1% year over year. Strong Coach demand, international growth, and improved margins helped drive the beat. Article: TPR Q1 Earnings Beat Estimate on Coach Gains, FY27 Outlook Raised
- Positive Sentiment: The company raised its fiscal 2027 outlook after a stronger-than-expected start to the year. Reports also highlighted Coach’s appeal among younger shoppers and management’s view that U.S. consumers remain resilient heading into the holiday season. Article: Tapestry lifts annual forecasts as young shoppers snap up Coach bags
- Positive Sentiment: Barclays raised its price target to $195 from $185 and maintained an Overweight rating; Wells Fargo raised its target to $155 from $150, also keeping an Overweight rating. These moves signal continued analyst confidence following the results. Barclays rating information Wells Fargo rating information
- Neutral Sentiment: Tapestry declared a quarterly dividend of $0.4625 per share, payable December 21 to shareholders of record December 4. The annualized dividend is $1.85 per share, a yield of about 1.4%. Article: Tapestry reports fiscal 2027 first-quarter results and raises outlook
About Tapestry
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