Tapestry, Inc. (NYSE:TPR) Receives Consensus Rating of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has earned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $175.1250.

Several equities research analysts recently issued reports on TPR shares. Wall Street Zen downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Telsey Advisory Group upped their price objective on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wells Fargo & Company cut their price objective on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th.

Tapestry Trading Up 0.2%

Shares of Tapestry stock opened at $125.75 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average is $143.26 and its 200-day moving average is $144.41. Tapestry has a 12-month low of $93.00 and a 12-month high of $164.80. The stock has a market cap of $25.07 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.59 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings results 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 firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities research analysts predict that Tapestry will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is presently 21.95%.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. World Investment Advisors grew its stake in shares of Tapestry by 3.6% in the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after purchasing an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in Tapestry by 4.7% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Tapestry by 2.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock worth $477,000 after purchasing an additional 73 shares during the last quarter. Eastern Bank lifted its holdings in Tapestry by 24.4% during the 2nd quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock worth $57,000 after buying an additional 77 shares during the period. Finally, NewEdge Wealth LLC grew its position in shares of Tapestry by 2.7% in the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock valued at $450,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.