Tapestry (NYSE:TPR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tapestry (NYSE:TPR) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other analysts also recently weighed in on TPR. Morgan Stanley restated an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. BTIG Research initiated coverage on shares of Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Finally, Barclays increased their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.10.

Tapestry Stock Up 0.2%

Shares of Tapestry stock opened at $114.97 on Friday. The business has a 50-day moving average of $109.50 and a 200-day moving average of $94.61. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The company has a market capitalization of $23.80 billion, a PE ratio of 182.50, a P/E/G ratio of 2.76 and a beta of 1.57. Tapestry has a 1-year low of $46.77 and a 1-year high of $118.56.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts forecast that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a $0.40 dividend. The ex-dividend date was Friday, September 5th. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry’s payout ratio is presently 253.97%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. 1858 Wealth Management LLC raised its holdings in shares of Tapestry by 2.5% during the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after buying an additional 95 shares during the last quarter. Convergence Financial LLC raised its holdings in shares of Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after buying an additional 98 shares during the last quarter. Earned Wealth Advisors LLC raised its holdings in shares of Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after buying an additional 116 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after buying an additional 122 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after buying an additional 139 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.