Tapestry (NYSE:TPR) Price Target Raised to $148.00

Tapestry (NYSE:TPR) had its target price lifted by JPMorgan Chase & Co. from $147.00 to $148.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the luxury accessories retailer’s stock.

TPR has been the subject of a number of other reports. BTIG Research began coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price for the company. Raymond James Financial upped their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Evercore ISI lifted their target price on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Finally, Bank of America downgraded Tapestry from a “buy” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Tapestry Trading Up 1.1%

TPR opened at $104.46 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry has a 52 week low of $54.98 and a 52 week high of $118.56. The business’s 50 day moving average is $110.74 and its two-hundred day moving average is $99.26. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 165.81, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s payout ratio is 142.86%.

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

Insiders Place Their Bets

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 73,231 shares of company stock worth $7,530,325. 1.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after acquiring an additional 606,686 shares during the period. State Street Corp grew its holdings in Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after buying an additional 158,782 shares in the last quarter. SRS Investment Management LLC increased its position in shares of Tapestry by 12.4% in the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after buying an additional 589,000 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Tapestry by 21.1% during the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after buying an additional 846,553 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.