Tapestry (NYSE:TPR) Updates FY 2027 Earnings Guidance

Tapestry (NYSE:TPR) updated its FY 2027 earnings guidance on Thursday morning. The company provided earnings per share guidance of 7.800-7.900 for the period, compared to the consensus EPS estimate of 7.820. The company issued revenue guidance of $8.4 billion-$8.5 billion, compared to the consensus revenue estimate of $8.5 billion.

Tapestry Stock Down 4.3%

Tapestry stock opened at $153.57 on Thursday. The company’s 50-day moving average price is $146.94 and its two-hundred day moving average price is $144.75. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock has a market cap of $31.03 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.46 and a beta of 1.43. Tapestry has a twelve month low of $92.62 and a twelve month 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 analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, analysts expect that Tapestry will post 6.98 EPS for the current year.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent research reports. BTIG Research restated a “buy” rating and issued a $180.00 price target on shares of Tapestry in a research note on Wednesday, June 10th. Telsey Advisory Group lifted their target price on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. UBS Group boosted their target price on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley restated an “overweight” rating and issued a $164.00 price target on shares of Tapestry in a research note on Monday, July 6th. Finally, Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $175.44.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group raised its position in Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Wellington Management Group LLP raised its holdings in Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after buying an additional 2,043,353 shares during the last quarter. State Street Corp boosted its position in Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after buying an additional 1,494,193 shares during the period. Voloridge Investment Management LLC grew its holdings in Tapestry by 160.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock worth $213,592,000 after acquiring an additional 1,162,442 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Tapestry by 426.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer’s stock valued at $127,092,000 after acquiring an additional 909,433 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.