Tapestry (NYSE:TPR) Upgraded by Daiwa Securities Group to Strong-Buy Rating

Daiwa Securities Group upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other research analysts have also weighed in on TPR. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday. Morgan Stanley dropped their price objective on Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Telsey Advisory Group raised their price objective on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Tapestry Trading Up 2.5%

Shares of Tapestry stock opened at $132.23 on Monday. Tapestry has a 12-month low of $93.00 and a 12-month high of $164.80. The stock has a market cap of $26.37 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.15 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average is $145.97 and its 200-day moving average is $144.81.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities research analysts predict that Tapestry will post 7.96 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.4625 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s payout ratio is 21.95%.

Insider Activity

In other news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of TPR. Cetera Trust Company N.A acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $26,000. Acumen Wealth Advisors LLC bought a new stake in shares of Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new stake in shares of Tapestry in the third quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. acquired a new stake in Tapestry during the second quarter worth approximately $31,000. Finally, Virtus Advisers LLC acquired a new position in Tapestry in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Company Profile

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.