Tapestry (NYSE:TPR) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Tapestry (NYSE:TPR) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently issued reports on TPR. UBS Group boosted their target price on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Citigroup raised their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $170.06.

Tapestry Stock Down 3.4%

Tapestry stock opened at $138.78 on Wednesday. The business’s 50-day moving average price is $142.18 and its 200 day moving average price is $142.49. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.43. Tapestry has a 52 week low of $92.62 and a 52 week high of $161.97.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Tapestry’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts anticipate that Tapestry will post 6.97 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s payout ratio is presently 51.28%.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several institutional investors have recently bought and sold shares of TPR. Woodline Partners LP increased its position in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Tapestry during the first quarter worth $493,000. Sivia Capital Partners LLC acquired a new stake in shares of Tapestry in the second quarter valued at about $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry in the second quarter valued at about $6,307,000. Finally, Brown Advisory Inc. lifted its stake in shares of Tapestry by 13.8% in the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after buying an additional 439 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.