Tapestry (NYSE:TPR) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Tapestry (NYSE:TPR) from a strong-buy rating to a buy rating in a report published on Sunday.

TPR has been the subject of several other research reports. Evercore ISI reduced their price target on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Barclays raised their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Robert W. Baird set a $130.00 target price on shares of Tapestry in a report on Wednesday, October 29th. Finally, Cowen restated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $115.80.

Tapestry Price Performance

Shares of TPR opened at $106.30 on Friday. The company has a market capitalization of $22.00 billion, a P/E ratio of 168.72, a price-to-earnings-growth ratio of 2.72 and a beta of 1.57. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a 50 day moving average of $110.81 and a 200 day moving average of $96.79. Tapestry has a twelve month low of $48.25 and a twelve month high of $118.56.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio is 253.97%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC boosted its stake in shares of Tapestry by 45.5% during the 3rd quarter. WCM Investment Management LLC now owns 815,037 shares of the luxury accessories retailer’s stock worth $90,844,000 after acquiring an additional 254,936 shares during the last quarter. AGF Management Ltd. increased its holdings in Tapestry by 7.4% in the 3rd quarter. AGF Management Ltd. now owns 121,032 shares of the luxury accessories retailer’s stock valued at $13,703,000 after acquiring an additional 8,290 shares during the last quarter. State of Wyoming increased its holdings in Tapestry by 42.0% in the 3rd quarter. State of Wyoming now owns 7,933 shares of the luxury accessories retailer’s stock valued at $898,000 after acquiring an additional 2,347 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in Tapestry in the 3rd quarter valued at $711,000. Finally, Jones Financial Companies Lllp increased its holdings in Tapestry by 1.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 181,609 shares of the luxury accessories retailer’s stock valued at $19,811,000 after acquiring an additional 3,352 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Tapestry

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.