Tapestry’s (TPR) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Tapestry (NYSE:TPR) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $125.00 price objective on the luxury accessories retailer’s stock.

Several other research analysts have also recently issued reports on TPR. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Morgan Stanley upped their target price on Tapestry from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Evercore ISI decreased their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Finally, Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 6th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.47.

Tapestry Trading Up 1.6%

NYSE:TPR opened at $107.01 on Thursday. The stock has a 50-day simple moving average of $103.55 and a 200-day simple moving average of $85.38. The stock has a market cap of $22.27 billion, a P/E ratio of 169.85, a P/E/G ratio of 2.65 and a beta of 1.52. Tapestry has a 1 year low of $41.38 and a 1 year high of $114.05. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts anticipate that Tapestry will post 4.91 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 22nd. Investors of record on Friday, September 5th will be given a $0.40 dividend. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s payout ratio is currently 253.97%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Institutional Trading of Tapestry

A number of hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Tapestry by 50.8% during the 2nd quarter. Osaic Holdings Inc. now owns 28,943 shares of the luxury accessories retailer’s stock worth $2,517,000 after acquiring an additional 9,755 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $135,000. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $822,000. Clarion Wealth Managment Partners LLC acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $1,317,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $265,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Company Profile

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.