Tapestry (NYSE:TPR) Trading Up 4.2% – Here’s Why

Tapestry, Inc. (NYSE:TPR)’s share price shot up 4.2% on Tuesday . The company traded as high as $135.35 and last traded at $134.47. 896,856 shares were traded during trading, a decline of 63% from the average daily volume of 2,427,307 shares. The stock had previously closed at $129.02.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of analyst reports. Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday. Wells Fargo & Company cut their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Tapestry Stock Up 3.8%

The company’s fifty day simple moving average is $146.23 and its 200-day simple moving average is $144.77. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm has a market capitalization of $26.70 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, analysts forecast that Tapestry, Inc. will post 7.88 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is 21.95%.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds have recently modified their holdings of the stock. Cetera Trust Company N.A acquired a new stake in Tapestry in the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. acquired a new position in Tapestry during the 2nd quarter valued at approximately $31,000. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry in the fourth quarter worth $28,000. Virtus Advisers LLC purchased a new position in shares of Tapestry in the second quarter worth $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry during the fourth quarter worth $32,000. 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.