Tapestry (NYSE:TPR) Stock Price Target Cut by UBS Group

Tapestry (NYSE:TPR) had its price target dropped by UBS Group from $232.00 to $200.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. UBS Group’s price objective would indicate a potential upside of 70.04% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein reissued a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. BTIG Research dropped their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research note 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. boosted their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Raymond James Financial decreased their price objective on shares of Tapestry from $165.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.56.

Tapestry Stock Performance

Tapestry stock opened at $117.62 on Tuesday. The stock’s 50 day moving average price is $121.48 and its 200 day moving average price is $136.36. The firm has a market capitalization of $23.45 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. Tapestry has a one year low of $93.00 and a one year high of $164.80.

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

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the company’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 value of $3,677,499.67. Following the transaction, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 1.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG raised its stake in shares of Tapestry by 13,153.1% in the 2nd quarter. Raiffeisen Bank International AG now owns 23,193 shares of the luxury accessories retailer’s stock valued at $3,399,000 after purchasing an additional 23,018 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Tapestry during the first quarter worth about $59,525,000. BlackRock Inc. bought a new position in shares of Tapestry during the second quarter worth about $2,610,995,000. Vega Investment Solutions bought a new position in shares of Tapestry during the second quarter worth about $10,322,000. Finally, Nykredit A S acquired a new position in Tapestry in the second quarter worth about $12,007,000. 90.77% of the stock is currently owned by institutional investors.

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.