JPMorgan Chase & Co. Issues Positive Forecast for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $147.00 to $148.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the luxury accessories retailer’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 46.52% from the company’s previous close.

TPR has been the topic of a number of other reports. The Goldman Sachs Group raised their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Raymond James Financial raised their target price on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Jefferies Financial Group lifted their target price on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. UBS Group reduced their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Finally, Robert W. Baird set a $130.00 price objective on Tapestry in a report on Wednesday, October 29th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.30.

Tapestry Trading Up 0.2%

NYSE:TPR opened at $101.01 on Monday. The company has a market capitalization of $20.67 billion, a PE ratio of 160.85, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. Tapestry has a 52-week low of $54.98 and a 52-week high of $118.56. The stock has a fifty day simple moving average of $110.85 and a 200-day simple moving average of $98.79. 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 (NYSE:TPR) last announced its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its board has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the company’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 sale, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated 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 sale, 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 position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by corporate insiders.

Institutional Trading of Tapestry

Several institutional investors have recently added to or reduced their stakes in TPR. Jump Financial LLC grew its stake in shares of Tapestry by 1,025.9% in the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Nuveen LLC acquired a new position in shares of Tapestry during the 1st quarter valued at $59,133,000. Neo Ivy Capital Management acquired a new stake in Tapestry during the first quarter valued at approximately $1,476,000. Hsbc Holdings PLC raised its position in shares of Tapestry by 50.6% during the first quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock worth $24,596,000 after purchasing an additional 118,200 shares during the period. Finally, Range Financial Group LLC boosted its holdings in shares of Tapestry by 20.5% in the second quarter. Range Financial Group LLC now owns 38,447 shares of the luxury accessories retailer’s stock worth $3,376,000 after buying an additional 6,535 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.