Tapestry (NYSE:TPR) Price Target Cut to $150.00 by Analysts at Robert W. Baird

Tapestry (NYSE:TPR) had its price objective decreased by research analysts at Robert W. Baird from $165.00 to $150.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the luxury accessories retailer’s stock. Robert W. Baird‘s target price would suggest a potential upside of 35.32% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on TPR. Morgan Stanley lowered their price target on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. JPMorgan Chase & Co. upped their target price 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. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $170.62.

Tapestry Trading Up 0.4%

TPR opened at $110.85 on Tuesday. The stock has a market capitalization of $22.10 billion, a PE ratio of 15.21, a P/E/G ratio of 1.40 and a beta of 1.42. Tapestry has a one year low of $93.00 and a one year high of $164.80. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. The business’s 50 day moving average price is $118.95 and its 200 day moving average price is $137.47.

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

Insiders Place Their Bets

In other news, insider Denise Kulikowsky sold 5,810 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the sale, the insider owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. This trade represents a 21.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne Crevoiserat sold 27,761 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the sale, the chief executive officer owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This 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. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Trust Company N.A acquired a new position in Tapestry in the 2nd quarter valued at about $26,000. GK Wealth Management LLC acquired a new stake in Tapestry during the 3rd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. acquired a new stake in Tapestry during the 2nd quarter worth approximately $31,000. Virtus Advisers LLC purchased a new position in shares of Tapestry in the 2nd quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Tapestry by 336.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer’s stock valued at $43,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors 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.