Tapestry (NYSE:TPR) Hits New 12-Month High – Here’s Why

Tapestry, Inc. (NYSE:TPR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $131.77 and last traded at $131.7330, with a volume of 284635 shares trading hands. The stock had previously closed at $128.53.

Wall Street Analyst Weigh In

TPR has been the subject of several research reports. UBS Group increased their price objective on shares of Tapestry from $105.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. The Goldman Sachs Group increased their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Guggenheim initiated coverage on Tapestry in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

Tapestry Trading Up 1.9%

The company’s 50 day moving average price is $115.80 and its two-hundred day moving average price is $109.18. The firm has a market cap of $27.31 billion, a PE ratio of 119.13, a P/E/G ratio of 2.74 and a beta of 1.63. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s dividend payout ratio is presently 142.86%.

Tapestry announced that its board has authorized a share repurchase program on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Scott A. Roe sold 18,794 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the transaction, the chief financial officer directly owned 148,149 shares in the company, valued at approximately $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction dated 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 $2,221,053.45. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 115,485 shares of company stock valued at $12,034,058. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds and other institutional investors have recently modified their holdings of the business. Fulton Bank N.A. increased its stake in Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock valued at $405,000 after buying an additional 87 shares during the period. 1858 Wealth Management LLC boosted its holdings in shares of Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after acquiring an additional 95 shares in the last quarter. Convergence Financial LLC boosted its holdings in shares of Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after acquiring an additional 98 shares in the last quarter. Clark Financial Services Group Inc. BD increased its stake in shares of Tapestry by 1.8% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after acquiring an additional 103 shares during the period. Finally, Essex Financial Services Inc. raised its holdings in Tapestry by 3.5% during the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock worth $376,000 after purchasing an additional 113 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.