Tapestry, Inc. (NYSE:TPR) Stock Has Consensus Target Price of $173.56

Shares of Tapestry, Inc. (NYSE:TPR) have received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $171.56.

A number of research firms have weighed in on TPR. Weiss Ratings upgraded Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Sanford C. Bernstein restated a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Barclays raised their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Morgan Stanley dropped their price target on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Finally, Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th.

Insider Buying and Selling at Tapestry

In other news, insider Denise Kulikowsky sold 5,810 shares of Tapestry stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tapestry

Several institutional investors have recently added to or reduced their stakes in TPR. BlackRock Inc. acquired a new position in shares of Tapestry during the second quarter worth approximately $2,610,995,000. Bank of America Corp DE bought a new stake in Tapestry in the second quarter valued at approximately $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tapestry by 53.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock worth $317,586,000 after acquiring an additional 758,915 shares in the last quarter. Amundi lifted its stake in Tapestry by 96.0% in the first quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer’s stock valued at $249,751,000 after buying an additional 866,969 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Tapestry in the second quarter valued at about $175,291,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Up 0.4%

TPR stock opened at $110.85 on Tuesday. The firm’s 50-day simple moving average is $118.95 and its 200 day simple moving average is $137.47. The stock has a market cap of $22.10 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.40 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. Tapestry has a fifty-two week low of $93.00 and a fifty-two week high of $164.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings data 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 business 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%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts predict that Tapestry will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, September 4th. This is a boost from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is 25.38%.

About Tapestry

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.