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 note issued to investors on Monday morning.

TPR has been the subject of a number of other research reports. Sanford C. Bernstein upped their price objective on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. The Goldman Sachs Group boosted their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Robert W. Baird set a $130.00 price objective on Tapestry in a research report on Wednesday, October 29th. Jefferies Financial Group lifted their price objective on Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley upped their target price on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.25.

Tapestry Stock Up 1.7%

TPR opened at $103.78 on Monday. The business has a 50 day moving average of $111.01 and a 200-day moving average of $98.16. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 164.73, a P/E/G ratio of 2.72 and a beta of 1.71. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry has a 1-year low of $51.15 and a 1-year high of $118.56.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

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

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s payout ratio is currently 142.86%.

Insiders Place Their Bets

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This trade represents a 58.13% 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 this link. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by company insiders.

Institutional Trading of Tapestry

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Tapestry by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after acquiring an additional 606,686 shares during the last quarter. Geode Capital Management LLC boosted its stake in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after purchasing an additional 158,782 shares in the last quarter. SRS Investment Management LLC grew its holdings in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after purchasing an additional 589,000 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Tapestry by 36.0% in the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after buying an additional 939,227 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.