Tapestry’s (TPR) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Tapestry (NYSE:TPR) in a research note published on Friday morning,Weiss Ratings reports.

Several other research analysts have also commented on TPR. Sanford C. Bernstein restated an “outperform” rating and issued a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Barclays raised their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Cowen restated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and raised their price target for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price target on shares of Tapestry in a report on Thursday, September 11th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.35.

Tapestry Trading Down 0.2%

Shares of TPR stock opened at $114.71 on Friday. The firm has a market cap of $23.75 billion, a P/E ratio of 182.08, a PEG ratio of 2.76 and a beta of 1.57. Tapestry has a 1-year low of $46.77 and a 1-year high of $118.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The firm’s 50-day simple moving average is $109.19 and its 200-day simple moving average is $94.28.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts forecast that Tapestry will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry’s payout ratio is 253.97%.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred 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 sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. grew its position in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Tapestry during the first quarter worth approximately $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry during the second quarter worth approximately $25,000. Vestor Capital LLC acquired a new stake in shares of Tapestry during the second quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.