Tapestry (NYSE:TPR) Stock Gets Price Target Reduction from UBS Group

Tapestry (NYSE:TPR) had its price objective lowered by UBS Group from $232.00 to $200.00 in a research note released on Tuesday, MarketBeat Ratings reports. UBS Group currently has a buy rating on the luxury accessories retailer’s stock.

Several other brokerages also recently commented on TPR. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Wells Fargo & Company lowered their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Barclays boosted their target price on shares of Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.56.

Tapestry Price Performance

NYSE TPR opened at $113.83 on Tuesday. The stock’s 50-day moving average price is $119.55 and its two-hundred day moving average price is $135.79. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The company has a market cap of $22.70 billion, a PE ratio of 15.61, a PEG ratio of 1.46 and a beta of 1.42. Tapestry has a 1 year low of $93.00 and a 1 year high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’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. On average, analysts predict that Tapestry will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were issued a dividend of $0.4625 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 4th. Tapestry’s dividend payout ratio is 25.38%.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the transaction, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 value of $670,357.80. Following the completion of the transaction, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

Institutional investors have recently made changes to their positions in the company. Capital Investment Advisors LLC acquired a new position in Tapestry in the third quarter worth approximately $245,000. Fifth Third Wealth Advisors LLC raised its position in Tapestry by 45.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,496 shares of the luxury accessories retailer’s stock valued at $517,000 after acquiring an additional 1,396 shares in the last quarter. Yousif Capital Management LLC raised its position in Tapestry by 0.6% during the third quarter. Yousif Capital Management LLC now owns 20,146 shares of the luxury accessories retailer’s stock valued at $2,318,000 after acquiring an additional 111 shares in the last quarter. U S Global Investors Inc. raised its position in Tapestry by 19.8% during the third quarter. U S Global Investors Inc. now owns 4,845 shares of the luxury accessories retailer’s stock valued at $557,000 after acquiring an additional 800 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in Tapestry by 15.4% in the third quarter. Root Financial Partners LLC now owns 1,877 shares of the luxury accessories retailer’s stock valued at $216,000 after acquiring an additional 250 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.