Brokerages Set Tapestry, Inc. (NYSE:TPR) Target Price at $108.42

Shares of Tapestry, Inc. (NYSE:TPR) have been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and eighteen have assigned a 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 $110.00.

Several equities research analysts have issued reports on the company. UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Wells Fargo & Company increased their price objective on shares of Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Cowen reiterated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were 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 position. The disclosure for this sale can be found here. 1.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tapestry

Several hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. grew its stake in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Tapestry in the first quarter valued at approximately $25,000. First PREMIER Bank bought a new position in shares of Tapestry in the second quarter valued at $25,000. Vestor Capital LLC bought a new position in shares of Tapestry in the second quarter valued at $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry in the first quarter valued at $29,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR opened at $116.31 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry has a 12 month low of $43.07 and a 12 month high of $117.77. The company has a fifty day simple moving average of $107.81 and a 200 day simple moving average of $91.32. The stock has a market cap of $24.08 billion, a P/E ratio of 184.61, a P/E/G ratio of 2.75 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, research analysts expect that Tapestry will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This is a boost from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry’s dividend payout ratio is 253.97%.

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.