JPMorgan Chase & Co. Increases Tapestry (NYSE:TPR) Price Target to $147.00

Tapestry (NYSE:TPR) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $142.00 to $147.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the luxury accessories retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 41.80% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price target on shares of Tapestry in a research note on Friday. Jefferies Financial Group upped their price objective on shares of Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a report on Monday. Finally, Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.25.

Tapestry Price Performance

TPR stock traded up $4.86 on Friday, reaching $103.67. The company had a trading volume of 6,611,070 shares, compared to its average volume of 4,515,167. The company’s fifty day moving average is $110.91 and its 200 day moving average is $96.89. The company has a market cap of $21.46 billion, a P/E ratio of 164.55, a PEG ratio of 2.72 and a beta of 1.71. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry has a 1 year low of $49.84 and a 1 year high of $118.56.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, research analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

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

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harbour Investments Inc. grew its stake in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Tapestry during the 1st quarter worth approximately $25,000. First PREMIER Bank purchased a new position in Tapestry in the 2nd quarter worth approximately $25,000. Cloud Capital Management LLC acquired a new stake in Tapestry in the third quarter valued at approximately $26,000. Finally, Vestor Capital LLC acquired a new stake in Tapestry in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Company Profile

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.