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

Shares of Tapestry, Inc. (NYSE:TPR) have earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $175.12.

Several analysts have commented on the stock. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. UBS Group reaffirmed a “buy” rating on shares of Tapestry in a research report on Tuesday, September 8th. Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 21st.

Tapestry Trading Up 3.6%

TPR opened at $119.17 on Friday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.46 and a beta of 1.42. 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 has a 12 month low of $93.00 and a 12 month high of $164.80. The stock has a fifty day moving average price of $130.57 and a 200-day moving average price of $138.48.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping 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 in the prior year, the business posted $1.04 EPS. The firm’s quarterly 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, equities research analysts anticipate that Tapestry will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.6%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is 25.38%.

Insider Activity

In other news, insider Denise Kulikowsky sold 5,810 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Institutional Trading of Tapestry

Several large investors have recently bought and sold shares of TPR. BlackRock Inc. purchased a new position in shares of Tapestry in the second quarter worth $2,610,995,000. Bank of America Corp DE acquired a new position in shares of Tapestry in the 2nd quarter valued at $771,309,000. Geode Capital Management LLC increased its position in shares of Tapestry by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after acquiring an additional 203,764 shares during the period. Norges Bank purchased a new position in Tapestry in the 4th quarter worth $345,349,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tapestry by 53.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock worth $317,586,000 after acquiring an additional 758,915 shares during the last quarter. Hedge funds and other institutional investors 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, Kate Spade New York, Stuart Weitzman, Versace, Jimmy Choo and Michael Kors, offering handbags, footwear, apparel, jewelry, watches, accessories, fragrances and related products.

Tapestry sells its products through company-operated stores, brand websites and other digital channels, as well as wholesale partners, department stores, specialty retailers and travel-retail locations.