Tapestry (NYSE:TPR) Hits New 1-Year High – Here’s What Happened

Tapestry, Inc. (NYSE:TPR) reached a new 52-week high during trading on Monday . The company traded as high as $125.73 and last traded at $124.59, with a volume of 755745 shares changing hands. The stock had previously closed at $123.21.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPR. Raymond James Financial boosted their price target on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Morgan Stanley upped their target price on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Wells Fargo & Company raised their price target on Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a research report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Tapestry Trading Down 0.0%

The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The stock has a market capitalization of $25.19 billion, a PE ratio of 109.91, a price-to-earnings-growth ratio of 2.54 and a beta of 1.65. The business’s 50-day moving average is $111.37 and its two-hundred day moving average is $104.01.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping the consensus estimate 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 net margin of 3.77% and a return on equity of 116.42%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio is 142.86%.

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

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total transaction of $67,144.11. Following the sale, the insider owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of TPR. Flaharty Asset Management LLC acquired a new stake in Tapestry in the first quarter valued at $25,000. First PREMIER Bank purchased a new stake in shares of Tapestry in the 2nd quarter worth about $25,000. Cloud Capital Management LLC acquired a new stake in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC acquired a new stake in Tapestry in the 2nd quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Tapestry during the 1st quarter valued at about $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

About Tapestry

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.