Tapestry (NYSE:TPR) Price Target Raised to $165.00

Tapestry (NYSE:TPR) had its price objective raised by Robert W. Baird from $160.00 to $165.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the luxury accessories retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Argus set a $165.00 price objective on shares of Tapestry in a research report on Thursday, March 12th. Evercore upped their price objective on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $142.00 to $138.00 in a report on Wednesday, January 14th. Finally, BTIG Research upped their price target on Tapestry from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.89.

Tapestry Stock Down 1.5%

Shares of TPR opened at $142.83 on Wednesday. The company has a market capitalization of $28.92 billion, a P/E ratio of 59.02, a PEG ratio of 1.74 and a beta of 1.59. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry has a one year low of $70.81 and a one year high of $161.97. The business’s 50 day simple moving average is $147.31 and its 200-day simple moving average is $131.52.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts predict that Tapestry will post 6.46 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, March 6th. Tapestry’s dividend payout ratio is 66.12%.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 44,290 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total value of $6,759,539.80. Following the transaction, the chief financial officer owned 139,128 shares of the company’s stock, valued at $21,233,715.36. This represents a 24.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,956 shares of company stock valued at $25,297,262 over the last ninety days. Company insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Diversify Wealth Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $818,000. Citizens Financial Group Inc. RI lifted its stake in shares of Tapestry by 11.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,659 shares of the luxury accessories retailer’s stock valued at $516,000 after purchasing an additional 387 shares during the period. Fifth Third Bancorp lifted its stake in shares of Tapestry by 300.1% in the 1st quarter. Fifth Third Bancorp now owns 66,952 shares of the luxury accessories retailer’s stock valued at $9,448,000 after purchasing an additional 50,217 shares during the period. American Trust acquired a new position in shares of Tapestry in the 1st quarter valued at $468,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Tapestry by 28.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,073 shares of the luxury accessories retailer’s stock valued at $1,280,000 after purchasing an additional 2,019 shares during the period. 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.