Tapestry, Inc. (NYSE:TPR) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Tapestry, Inc. (NYSE:TPR) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $173.56.

TPR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Morgan Stanley reduced their price target on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Wells Fargo & Company reduced their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. UBS Group restated a “buy” rating on shares of Tapestry in a research note on Tuesday, September 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th.

Tapestry Stock Performance

Shares of Tapestry stock opened at $117.62 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. Tapestry has a 52 week low of $93.00 and a 52 week high of $164.80. The firm’s 50 day moving average is $121.48 and its two-hundred day moving average is $136.36. The firm has a market capitalization of $23.45 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.52 and a beta of 1.42.

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

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, September 4th. Tapestry’s payout ratio is presently 25.38%.

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was 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 in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TPR. Raiffeisen Bank International AG grew its position in shares of Tapestry by 13,153.1% during the second quarter. Raiffeisen Bank International AG now owns 23,193 shares of the luxury accessories retailer’s stock worth $3,399,000 after acquiring an additional 23,018 shares during the last quarter. SEB Asset Management AB acquired a new position in shares of Tapestry in the 1st quarter valued at $59,525,000. BlackRock Inc. acquired a new position in shares of Tapestry in the 2nd quarter valued at $2,610,995,000. Vega Investment Solutions purchased a new stake in Tapestry in the 2nd quarter valued at $10,322,000. Finally, Nykredit A S purchased a new stake in Tapestry in the 2nd quarter valued at $12,007,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Company Profile

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

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.