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

Tapestry, Inc. (NYSE:TPR) has been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $175.12.

TPR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Barclays increased their price target on shares of Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Daiwa Securities Group raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Finally, Morgan Stanley reduced their target price 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.

Insiders Place Their Bets

In other news, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the transaction, the insider owned 21,136 shares in the company, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry 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 approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Several large investors have recently modified their holdings of the business. Cetera Trust Company N.A purchased a new stake in shares of Tapestry during the 2nd quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. bought a new stake in Tapestry during the 2nd quarter valued at $31,000. Virtus Advisers LLC bought a new stake in Tapestry during the 2nd quarter valued at $32,000. Elevation Wealth Partners LLC lifted its position in shares of Tapestry by 336.8% during the second quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer’s stock worth $43,000 after acquiring an additional 229 shares in the last quarter. Finally, Wellington Altus USA Inc. purchased a new stake in shares of Tapestry during the second quarter worth $43,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $111.97 on Friday. The company has a market capitalization of $22.33 billion, a PE ratio of 15.36, a PEG ratio of 1.42 and a beta of 1.42. 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 stock’s 50 day moving average price is $133.20 and its 200-day moving average price is $139.52. Tapestry has a twelve month low of $93.00 and a twelve month high of $164.80.

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

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.7%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, September 4th. Tapestry’s dividend payout ratio is currently 25.38%.

About Tapestry

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.