Tapestry (NYSE:TPR) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Tapestry (NYSE:TPR) from a strong-buy rating to a buy rating in a research report released on Tuesday.

TPR has been the topic of several other reports. Barclays set a $179.00 target price on shares of Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a report on Friday, February 6th. Citigroup raised their price objective on shares of Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, February 6th. BTIG Research boosted their price objective on shares of Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.06.

Tapestry Stock Performance

Shares of TPR stock opened at $141.54 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. The stock has a 50 day simple moving average of $143.75 and a 200-day simple moving average of $125.44. The company has a market cap of $28.66 billion, a price-to-earnings ratio of 58.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. Tapestry has a 12-month low of $58.39 and a 12-month high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities analysts forecast that Tapestry will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a $0.40 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s payout ratio is currently 66.12%.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total transaction of $329,500.09. Following the completion of the transaction, the vice president owned 18,475 shares in the company, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the sale, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 164,956 shares of company stock worth $25,297,262 in the last 90 days. Insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Acumen Wealth Advisors LLC acquired a new stake in Tapestry during the 4th quarter valued at $28,000. Steph & Co. raised its holdings in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after acquiring an additional 130 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Tapestry in the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Tapestry in the fourth quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry during the fourth quarter valued at $32,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

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.