Tapestry (NYSE:TPR) Raised to Strong-Buy at Wall Street Zen

Tapestry (NYSE:TPR) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently weighed in on TPR. Evercore increased their price target on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research report on Friday, February 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 target price on shares of Tapestry in a research note on Friday, February 6th. Barclays set a $179.00 target price on Tapestry and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Tapestry Price Performance

NYSE:TPR opened at $155.16 on Friday. The company has a market cap of $31.41 billion, a P/E ratio of 64.11, a P/E/G ratio of 1.86 and a beta of 1.55. The firm’s fifty day moving average price is $138.14 and its two-hundred day moving average price is $119.78. Tapestry has a one year low of $58.39 and a one year high of $161.97. 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 (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts expect that Tapestry will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Tapestry

In other Tapestry news, Director Anne Gates sold 6,498 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the sale, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. The trade was a 22.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total value of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 165,539 shares of company stock worth $25,364,406. 1.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of the stock. Woodline Partners LP grew its position in Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Tapestry in the 1st quarter valued at $493,000. Sivia Capital Partners LLC purchased a new stake in shares of Tapestry in the 2nd quarter valued at $602,000. Envestnet Asset Management Inc. grew its holdings in shares of Tapestry by 35.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 401,828 shares of the luxury accessories retailer’s stock valued at $35,285,000 after purchasing an additional 104,364 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Tapestry by 146.2% in the 2nd quarter. Bessemer Group Inc. now owns 7,328 shares of the luxury accessories retailer’s stock worth $643,000 after purchasing an additional 4,352 shares during the period. 90.77% of the stock is currently owned by institutional investors.

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.