Tapestry, Inc. (NYSE:TPR) Stock Has Average Price Target of $175.12

Shares of Tapestry, Inc. (NYSE:TPR) have received a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $175.12.

Several equities research analysts have recently commented on TPR shares. Barclays boosted their price objective on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings upgraded Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Wells Fargo & Company decreased their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Finally, BTIG Research lowered their price objective on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th.

Insider Activity

In related news, CEO Joanne 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 value of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of Tapestry stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the transaction, the insider owned 21,136 shares of the company’s stock, valued at $2,438,671.68. This trade represents a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in Tapestry by 6.4% in the 2nd quarter. QRG Capital Management Inc. now owns 12,345 shares of the luxury accessories retailer’s stock valued at $1,807,000 after buying an additional 745 shares during the last quarter. Andra AP fonden boosted its holdings in Tapestry by 5.6% during the 2nd quarter. Andra AP fonden now owns 126,400 shares of the luxury accessories retailer’s stock worth $18,502,000 after acquiring an additional 6,700 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Tapestry in the 2nd quarter worth $44,000. Wellington Altus USA Inc. purchased a new stake in shares of Tapestry in the second quarter valued at about $43,000. Finally, Tidal Investments LLC raised its holdings in shares of Tapestry by 14.7% in the second quarter. Tidal Investments LLC now owns 67,741 shares of the luxury accessories retailer’s stock valued at $9,916,000 after purchasing an additional 8,656 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 1.3%

Shares of NYSE TPR opened at $111.97 on Friday. 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 firm has a market cap of $22.33 billion, a PE ratio of 15.36, a P/E/G ratio of 1.42 and a beta of 1.42. The company’s fifty day simple moving average is $133.20 and its 200 day simple moving average is $139.52. Tapestry has a 12-month low of $93.00 and a 12-month high of $164.80.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts forecast that Tapestry will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were issued a $0.4625 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is currently 25.38%.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.